USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.67% against the JPY and closed at 108.62.
In the Asian session, at GMT0400, the pair is trading at 108.72, with the USD trading 0.09% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.49, and a fall through could take it to the next support level of 108.27. The pair is expected to find its first resistance at 108.87, and a rise through could take it to the next resistance level of 109.03.
Moving ahead, investor would keep a close watch on Jibun Bank services PMI for January, slated to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
