USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.17% against the JPY and closed at 118.45, extending its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 118.62, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 118.34, and a fall through could take it to the next support level of 118.06. The pair is expected to find its first resistance at 118.79, and a rise through could take it to the next resistance level of 118.97.
Looking ahead, investors await the BoJ’s monetary policy statement, scheduled in the early tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
