USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.89% against the JPY and closed at 100.27.
In the Asian session, at GMT0300, the pair is trading at 100.55, with the USD trading 0.28% higher against the JPY from yesterday’s close.
The pair is expected to find support at 99.72, and a fall through could take it to the next support level of 98.9. The pair is expected to find its first resistance at 101.18, and a rise through could take it to the next resistance level of 101.82.
Looking forward, Japan’s merchandise trade balance data for July, scheduled to release overnight, would be on investor’s radar.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
