USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 1.55% against the JPY and closed at 115.44.
In the Asian session, at GMT0400, the pair is trading at 115.75, with the USD trading 0.27% higher against the JPY from yesterday’s close.
The pair is expected to find support at 114.93, and a fall through could take it to the next support level of 114.12. The pair is expected to find its first resistance at 116.67, and a rise through could take it to the next resistance level of 117.60.
Moving ahead, investors will look forward to Japan’s consumer confidence, leading and coincident indices, Eco-Watchers survey and BOP basis trade balance, all scheduled to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
