USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.84% against the JPY and closed at 97.62.
In the Asian session, at GMT0300, the pair is trading at 98.15, with the USD trading 0.54% higher from yesterday’s close.
The pair is expected to find support at 97.35, and a fall through could take it to the next support level of 96.56. The pair is expected to find its first resistance at 98.64, and a rise through could take it to the next resistance level of 99.14.
In the absence of any major economic news in Japan today, investor eye the Fed’s Beige Book to give direction to the currency pair.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
