USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.28% against the JPY and closed at 109.18 on Friday.
The Japanese Yen gained ground against the USD on Friday, amid increased risk aversion among investors as the Trump administration continues to lurch from one crisis to another.
In the Asian session, at GMT0300, the pair is trading at 109.21, with the USD trading marginally higher against the JPY from Friday’s close.
Earlier in the session, data indicated that Japan’s all industry activity index rebounded 0.4% on a monthly basis in June, meeting market expectations. The index had registered a revised drop of 0.8% in the prior month.
The pair is expected to find support at 108.67, and a fall through could take it to the next support level of 108.14. The pair is expected to find its first resistance at 109.67, and a rise through could take it to the next resistance level of 110.14.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
