USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.31% against the JPY and closed at 107.01.
In the Asian session, at GMT0300, the pair is trading at 107.25, with the USD trading 0.23% higher from yesterday’s close.
Earlier today, the BoJ reported that the domestic corporate goods price index in Japan dropped 0.1% on a monthly basis in September, in line with market expectations and following a decline of 0.2% in the prior month.
The pair is expected to find support at 106.79, and a fall through could take it to the next support level of 106.34. The pair is expected to find its first resistance at 107.65, and a rise through could take it to the next resistance level of 108.05.
Trading trends in the Yen today are expected to be determined by the BoJ’s economic outlook report, scheduled in a few hours
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
