USDJPY Movement
On Friday, the USD declined 1.08% against the JPY and closed at 122.13.
In the Asian session, at GMT0300, the pair is trading at 120.85, with the USD trading 1.05% lower from Friday’s close.
The pair is expected to find support at 119.94, and a fall through could take it to the next support level of 119.04. The pair is expected to find its first resistance at 122.54, and a rise through could take it to the next resistance level of 124.23.
Trading trends in the Yen today are expected to be determined by leading economic and coincident indices for June, set for release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
