USDJPY Movement
On Friday, the USD traded a tad higher against the JPY and closed at 121.42.
In the Asian session, at GMT0400, the pair is trading at 121.34, with the USD trading 0.07% lower from Friday’s close.
The pair is expected to find support at 121.12, and a fall through could take it to the next support level of 120.89. The pair is expected to find its first resistance at 121.57, and a rise through could take it to the next resistance level of 121.80.
Amid no economic releases in Japan today, market participants would keep a close eye on the BoJ’s monetary policy statement, scheduled in the early hours tomorrow.
The currency pair is trading slightly below its 20 Hr and 50 Hr moving averages.
