USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the JPY and closed at 111.17.
In the Asian session, at GMT0300, the pair is trading at 111.27, with the USD trading 0.09% higher against the JPY from yesterday’s close.
The pair is expected to find support at 111.03, and a fall through could take it to the next support level of 110.80. The pair is expected to find its first resistance at 111.43, and a rise through could take it to the next resistance level of 111.60.
Going forward, investors will await Japan’s consumer confidence index for August, set to release in a while. Also, retail trade and large retailers’ sales, both for July, set to release overnight, will garner significant amount of investor attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
