USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.54% against the JPY and closed at 120.76, following encouraging 3Q GDP and consumer sentiment data in the US.
In the Asian session, at GMT0400, the pair is trading at 120.43, with the USD trading 0.27% lower from yesterday’s close.
The pair is expected to find support at 120.04, and a fall through could take it to the next support level of 119.64. The pair is expected to find its first resistance at 120.83, and a rise through could take it to the next resistance level of 121.23.
Meanwhile, investors would monitor the BoJ minutes from its latest monetary policy meeting scheduled overnight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
