USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.63% against the JPY and closed at 103.6.
In the Asian session, at GMT0300, the pair is trading at 103.84, with the USD trading 0.23% higher against the JPY from yesterday’s close.
The pair is expected to find support at 103.36, and a fall through could take it to the next support level of 102.87. The pair is expected to find its first resistance at 104.29, and a rise through could take it to the next resistance level of 104.73.
Moving ahead, market participants would focus on Japan’s industrial production and all industry activity index, both for August, due to release next week.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
