USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.55% against the JPY and closed at 114.74.
In the Asian session, at GMT0400, the pair is trading at 115.06, with the USD trading 0.28% higher against the JPY from yesterday’s close.
The pair is expected to find support at 114.14, and a fall through could take it to the next support level of 113.21. The pair is expected to find its first resistance at 115.58, and a rise through could take it to the next resistance level of 116.09.
Going ahead, traders will focus on Japan’s machine orders, tertiary industry index, machine tool orders and industrial production data, all 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.
