USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the JPY and closed at 101.83.
In the Asian session, at GMT0300, the pair is trading at 101.92, with the USD trading 0.09% higher against the JPY from yesterday’s close.
The pair is expected to find support at 101.60, and a fall through could take it to the next support level of 101.29. The pair is expected to find its first resistance at 102.19, and a rise through could take it to the next resistance level of 102.47.
Investors would look forward to the much anticipated Bank of Japan’s interest rate decision, slated to be announced in the early hours’ tomorrow.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
