USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.15% against the JPY and closed at 122.70.
In the Asian session, at GMT0400, the pair is trading at 122.62, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 122.26, and a fall through could take it to the next support level of 121.91. The pair is expected to find its first resistance at 122.96, and a rise through could take it to the next resistance level of 123.30.
Going ahead, investors will concentrate on Japan’s national consumer price index and unemployment rate data, both for the month of October, scheduled to be released overnight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
