USDJPY Movement
On Friday, the USD strengthened 0.69% against the JPY and closed at 101.54.
In the Asian session, at GMT0300, the pair is trading at 101.93, with the USD trading 0.39% higher from Friday’s close, following the release of money supply data by the Bank of Japan (BoJ).
The BoJ reported that the nation’s M2 money supply rose 3.3% (YoY) last month to ¥844.5 trillion, while M3 money stock rose 2.6% (YoY) to ¥1,142.0 trillion.
The pair is expected to find support at 101.15, and a fall through could take it to the next support level of 100.37. The pair is expected to find its first resistance at 102.44, and a rise through could take it to the next resistance level of 102.95.
Trading trends in the pair today are expected to be determined by the release of domestic corporate goods prices data from Japan later in the day.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
