USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.29% against the JPY and closed at 111.11.
In the Asian session, at GMT0400, the pair is trading at 111.02, with the USD trading 0.08% lower against the JPY from yesterday’s close.
The pair is expected to find support at 110.58, and a fall through could take it to the next support level of 110.15. The pair is expected to find its first resistance at 111.4, and a rise through could take it to the next resistance level of 111.79.
On account of a public holiday in Japan today, trading trend in the JPY is expected to be determined by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
