USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.89% against the JPY and closed at 113.27.
In the Asian session, at GMT0400, the pair is trading at 113.27, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 112.88, and a fall through could take it to the next support level of 112.48. The pair is expected to find its first resistance at 113.85, and a rise through could take it to the next resistance level of 114.42.
Next week, market participants would await the release of Japan’s flash Nikkei PMI for February and All industry activity index for December.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
