USDJPY Movement
For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 105.40.
In the Asian session, at GMT0300, the pair is trading at 105.52, with the USD trading 0.11% higher against the JPY from yesterday’s close.
The pair is expected to find support at 105.27, and a fall through could take it to the next support level of 105.01. The pair is expected to find its first resistance at 105.84, and a rise through could take it to the next resistance level of 106.15.
Moving ahead, Japan’s retail trade and large retailers’ sales data, both for February, due to release overnight, will be on investors’ radar.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
