USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.73% against the JPY and closed at 109.16.
The Japanese Yen gained ground, amid increased risk aversion as investors continue to grapple with geopolitical tensions between the US and North Korea.
In the Asian session, at GMT0300, the pair is trading at 108.97, with the USD trading 0.17% lower against the JPY from yesterday’s close.
The pair is expected to find support at 108.59, and a fall through could take it to the next support level of 108.22. The pair is expected to find its first resistance at 109.71, and a rise through could take it to the next resistance level of 110.46.
Next week, investors will focus on Japan’s 2Q GDP data, to gauge strength in the Japanese economy.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
