USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.67% against the JPY and closed at 119.43, rebounding from its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 119.63, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 118.82, and a fall through could take it to the next support level of 118.02. The pair is expected to find its first resistance at 120.04, and a rise through could take it to the next resistance level of 120.45.
Meanwhile, investors look forward to Japan’s machine orders data, scheduled overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
