USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.17% against the JPY and closed at 108.41 on Friday.
In the Asian session, at GMT0300, the pair is trading at 108.49, with the USD trading 0.07% higher against the JPY from Friday’s close.
Overnight data indicated that Japan’s adjusted total merchandise trade deficit narrowed to ¥97.2 billion in September, compared to a deficit of ¥130.8 billion in the previous month.
The pair is expected to find support at 108.28, and a fall through could take it to the next support level of 108.07. The pair is expected to find its first resistance at 108.71, and a rise through could take it to the next resistance level of 108.93.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
