USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally strengthened against the JPY and closed at 121.65.
In the Asian session, at GMT0400, the pair is trading at 122.14, with the USD trading 0.41% higher from yesterday’s close.
The pair is expected to find support at 121.51, and a fall through could take it to the next support level of 120.87. The pair is expected to find its first resistance at 122.51, and a rise through could take it to the next resistance level of 122.88.
Moving ahead, investors will look forward to the BoJ’s interest rate decision, scheduled to be announced later next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
