USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 109.40.
In the Asian session, at GMT0400, the pair is trading at 109.40, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 109.34, and a fall through could take it to the next support level of 109.29. The pair is expected to find its first resistance at 109.45, and a rise through could take it to the next resistance level of 109.51.
Amid no macroeconomic releases in Japan today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
