USDJPY Movement
On Friday, the USD strengthened 0.58% against the JPY and closed at 109.28.
In the Asian session, at GMT0300, the pair is trading at 109.43, with the USD trading 0.14% higher from Friday’s close.
The pair is expected to find support at 108.93, and a fall through could take it to the next support level of 108.44. The pair is expected to find its first resistance at 109.74, and a rise through could take it to the next resistance level of 110.05.
Trading trends in the Yen today would be determined by Japan’s unemployment rate as well as industrial production data, scheduled overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
