USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the JPY and closed at 104.21 on Friday.
In the Asian session, at GMT0300, the pair is trading at 104.21, with the USD trading flat from Friday’s close.
Earlier today, data showed that Japan’s final industrial production advanced by 1.3% MoM in August, following a rise of 1.5% in the preliminary print.
The pair is expected to find support at 103.81, and a fall through could take it to the next support level of 103.41. The pair is expected to find its first resistance at 104.54, and a rise through could take it to the next resistance level of 104.87.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
