USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.38% against the JPY and closed at 120.03.
In the Asian session, at GMT0300, the pair is trading at 119.86, with the USD trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 119.50, and a fall through could take it to the next support level of 119.13. The pair is expected to find its first resistance at 120.40, and a rise through could take it to the next resistance level of 120.93.
Meanwhile, Japan’s manufacturing PMI and all industry activity index data, scheduled in the early hours tomorrow would be closely watched by market participants for further cues.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
