USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.49% against the JPY and closed at 105.54 on Friday.
The Japanese Yen jumped against the USD, after the Bank of Japan (BoJ) Governor, Haruhiko Kuroda, hinted that the central bank may consider about withdrawing its quantitative-easing program in 2019.
In the Asian session, at GMT0400, the pair is trading at 105.54, with the USD trading flat against the JPY from Friday’s close.
Overnight data showed that Japan’s Nikkei services PMI declined to a level of 51.7 in February, compared to a reading of 51.9 in the prior month.
The pair is expected to find support at 105.14, and a fall through could take it to the next support level of 104.75. The pair is expected to find its first resistance at 106.04, and a rise through could take it to the next resistance level of 106.55.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
