USDJPY Movement
For the 24 hours to 23:00 GMT, the USD traded flat against the JPY and closed at 107.79.
In the Asian session, at GMT0300, the pair is trading at 107.85, with the USD trading 0.06% higher against the JPY from yesterday’s close.
The pair is expected to find support at 107.75, and a fall through could take it to the next support level of 107.66. The pair is expected to find its first resistance at 107.91, and a rise through could take it to the next resistance level of 107.98.
Moving ahead, traders would closely monitor Japan’s leading index and coincident index, both for May, set to release in a while.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
