USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.37% against the JPY and closed at 124.79.
In the Asian session, at GMT0300, the pair is trading at 124.73, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 124.16, and a fall through could take it to the next support level of 123.58. The pair is expected to find its first resistance at 125.16, and a rise through could take it to the next resistance level of 125.59.
Trading trends in the pair today are expected to be determined by the preliminary figures of coincident and leading economic indices for June, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
