USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 110.05.
In the Asian session, at GMT0300, the pair is trading at 110.18, with the USD trading 0.12% higher against the JPY from yesterday’s close.
Overnight data showed that Japan’s housing loans advanced 2.4% on an annual basis in 1Q 2019, compared to a similar rise in the preceding month.
The pair is expected to find support at 109.90, and a fall through could take it to the next support level of 109.63. The pair is expected to find its first resistance at 110.36, and a rise through could take it to the next resistance level of 110.55.
Moving forward, investors would keep an eye on Japan’s trade balance data for April and machine orders for March, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
