USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.49% against the JPY and closed at 123.96.
In the Asian session, at GMT0300, the pair is trading at 123.83, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 123.48, and a fall through could take it to the next support level of 123.13. The pair is expected to find its first resistance at 124.08, and a rise through could take it to the next resistance level of 124.33.
The BoJ’s monthly economic survey, scheduled in a few hours, would be keenly watched by the market participants, after the central bank downgraded Japan’s economic growth forecasts yesterday.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
