USDJPY Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the JPY and closed at 112.77.
In the Asian session, at GMT0300, the pair is trading at 112.75, with the USD trading a tad lower against the JPY from yesterday’s close.
The pair is expected to find support at 112.40, and a fall through could take it to the next support level of 112.05. The pair is expected to find its first resistance at 113.02, and a rise through could take it to the next resistance level of 113.29.
Moving ahead, Japan’s flash leading economic and coincident indices, both for August, due to release tomorrow, will be on investors’ radar.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
