USDJPY Movement
On Friday, the USD weakened 0.21% against the JPY and closed at 102.59 after the US reported a weaker than expected employment data.
Over the weekend, Japan’s monetary base in July on an annual basis rose to 42.7% compared to a gain of 42.6%, a month ago.
In the Asian session, at GMT0300, the pair is trading at 102.64, with the USD trading 0.05% higher from Friday’s close.
The pair is expected to find support at 102.30, and a fall through could take it to the next support level of 101.96. The pair is expected to find its first resistance at 103.02, and a rise through could take it to the next resistance level of 103.39.
Amid a lack of economic releases in Japan today, trading trends in the Yen would be determined by global events.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
