USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.29% against the JPY and closed at 107.94.
In the Asian session, at GMT0300, the pair is trading at 108.17, with the USD trading 0.21% higher 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 107.34. The pair is expected to find its first resistance at 108.52, and a rise through could take it to the next resistance level of 108.87.
Going ahead, investors will look forward to Japan’s preliminary machine tool orders data for March, due in few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
