USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 2.02% against the JPY and closed at 106.62.
In the Asian session, at GMT0300, the pair is trading at 106.75, with the USD trading 0.12% higher from Friday’s close.
The pair is expected to find support at 105.76, 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 108.38, and a rise through could take it to the next resistance level of 110.01.
With no major economic releases in Japan today, investors will look forward to the nation’s leading and coincident indices data for April, scheduled to release tomorrow morning.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
