USDJPY Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 112.18.
In the Asian session, at GMT0300, the pair is trading at 112.18, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 111.99, and a fall through could take it to the next support level of 111.79. The pair is expected to find its first resistance at 112.43, and a rise through could take it to the next resistance level of 112.67.
Going ahead, Japan’s adjusted merchandise trade balance for September, due to release overnight, will attract significant amount of market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
