USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.73% against the JPY and closed at 103.19.
In the Asian session, at GMT0300, the pair is trading at 102.78, with the USD trading 0.39% lower from yesterday’s close.
The pair is expected to find support at 102.16, and a fall through could take it to the next support level of 101.55. The pair is expected to find its first resistance at 103.57, and a rise through could take it to the next resistance level of 104.37.
Today’s monthly economic survey by the Bank of Japan would generate market interest.
The currency pair is trading below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
