USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.06% against the JPY and closed at 112.37.
In the Asian session, at GMT0400, the pair is trading at 112.33, with the USD trading marginally lower against the JPY from yesterday’s close.
The pair is expected to find support at 112.06, and a fall through could take it to the next support level of 111.78. The pair is expected to find its first resistance at 112.64, and a rise through could take it to the next resistance level of 112.94.
Going forward, traders would loosely monitor Japan’s machine tool orders for November, set to release in a while.
The currency pair showing convergence with its 20 Hr and 50 Hr moving averages.
