USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.24% against the JPY and closed at 112.46.
In the Asian session, at GMT0300, the pair is trading at 112.39, with the USD trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 112.04, and a fall through could take it to the next support level of 111.69. The pair is expected to find its first resistance at 112.71, and a rise through could take it to the next resistance level of 113.04.
Going ahead, investors will look forward to the release of Japan’s Q1 Tankan survey data, due overnight.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
