USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.47% against the JPY and closed at 104.72, after President of San Francisco Fed, John Williams indicated support to tapering the US Fed’s stimulus programme.
In the Asian session, at GMT0400, the pair is trading at 104.88, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 104.44, and a fall through could take it to the next support level of 103.99. The pair is expected to find its first resistance at 105.14, and a rise through could take it to the next resistance level of 105.39.
Amid lack of economic releases in Japan, traders are expected to keep a close tab on global economic news for further guidance in the pair.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
