USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 106.82 on Friday.
In the Asian session, at GMT0300, the pair is trading at 106.88, with the USD trading 0.06% higher against the JPY from Friday’s close.
The pair is expected to find support at 106.75, and a fall through could take it to the next support level of 106.62. The pair is expected to find its first resistance at 107.03, and a rise through could take it to the next resistance level of 107.18.
Moving forward, traders would keep a watch on Japan’s Jibun Bank manufacturing PMI for June, slated to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
