USDJPY Movement
On Friday, the USD weakened 0.09% against the JPY and closed at 123.41.
In the Asian session, at GMT0300, the pair is trading at 123.51, with the USD trading 0.08% higher from Friday’s close.
The pair is expected to find support at 123.15, and a fall through could take it to the next support level of 122.8. The pair is expected to find its first resistance at 123.85, and a rise through could take it to the next resistance level of 124.19.
Going ahead, investors would keenly await the release of BoJ’s monetary policy statement, slated to release later in the week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
