USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.84% against the JPY and closed at 118.21.
In the Asian session, at GMT0400, the pair is trading at 118.08, with the USD trading 0.11% lower against the JPY from yesterday’s close.
The pair is expected to find support at 117.30, and a fall through could take it to the next support level of 116.52. The pair is expected to find its first resistance at 118.76, and a rise through could take it to the next resistance level of 119.44.
Next week, market participants would focus on BoJ’s interest rate decision along with Japan’s adjusted merchandise trade balance for November and all industry activity index for October.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
