USDJPY Movement
On Friday, the USD strengthened 0.24% against the JPY and closed at 124.12.
In the Asian session, at GMT0300, the pair is trading at 124.15, with the USD trading a tad higher from Friday’s close.
Earlier today, Japan’s final manufacturing PMI rose to a level of 50.90 in May, compared to a level of 49.90 in the prior month.
The pair is expected to find support at 123.72, and a fall through could take it to the next support level of 123.28. The pair is expected to find its first resistance at 124.47, and a rise through could take it to the next resistance level of 124.79.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
