USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.79% against the JPY and closed at 102.22. The Japanese Yen lost ground against the US Dollar, as demand for safe-haven assets declined after Russia’s President, Vladimir Putin indicated that he saw no immediate need to invade Ukraine, adding that he would send military troops to Ukraine only in “an extreme case.”
In the Asian session, at GMT0400, the pair is trading at 102.21, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 101.76, and a fall through could take it to the next support level of 101.32. The pair is expected to find its first resistance at 102.48, and a rise through could take it to the next resistance level of 102.75.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
