USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the JPY and closed at 116.54.
In the Asian session, at GMT0400, the pair is trading at 116.68, with the USD trading 0.12% higher against the JPY from yesterday’s close.
The pair is expected to find support at 116.18, and a fall through could take it to the next support level of 115.67. The pair is expected to find its first resistance at 117.03, and a rise through could take it to the next resistance level of 117.37.
Moving ahead, market participants would concentrate on Japan’s final Nikkei manufacturing and services PMIs, both scheduled to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
