USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.05% against the JPY and closed at 109.98 on Friday.
In the Asian session, at GMT0300, the pair is trading at 109.51, with the USD trading 0.43% lower against the JPY from Friday’s close, on renewed trade tensions.
Separately, the Bank of Japan’s (BoJ) summary of opinions report showed that officials stressed the need to “patiently continue” its powerful monetary easing and enhance its commitment to reach the 2.0% inflation goal.
The pair is expected to find support at 109.23, and a fall through could take it to the next support level of 108.96. The pair is expected to find its first resistance at 110, and a rise through could take it to the next resistance level of 110.5.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
