USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.54% against the JPY and closed at 100.27.
In the Asian session, at GMT0300, the pair is trading at 100.01, with the USD trading 0.26% lower from yesterday’s close.
The pair is expected to find support at 99.53, and a fall through could take it to the next support level of 99.04. The pair is expected to find its first resistance at 100.50, and a rise through could take it to the next resistance level of 100.98.
In the absence of any key economic release in Japan today, investors shall keep a tab on the US ISM non-manufacturing PMI, factory orders and the ADP employment change data for trading cues in the currency pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
