USD/JPY: Japanese Yen trading lower in the morning session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.65% against the JPY and closed at 106.03.

In the Asian session, at GMT0300, the pair is trading at 106.08, with the USD trading 0.05% higher against the JPY from yesterday’s close.

The pair is expected to find support at 105.43, and a fall through could take it to the next support level of 104.77. The pair is expected to find its first resistance at 106.48, and a rise through could take it to the next resistance level of 106.87.

Looking ahead, traders would keep a watch on Japan’s national consumer price index for July and the Jibun Bank manufacturing PMI for August, slated to release overnight.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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