USDJPY Movement
For the 24 hours to 23:00 GMT, the USD ended the day flat against the JPY, in a holiday-thin trading session, and closed at previous day’s closing price of 104.25.
In the Asian session, at GMT0400, the pair is trading at 104.64, with the USD trading 0.38% higher from yesterday’s close.
The pair is expected to find support at 104.13, and a fall through could take it to the next support level of 103.62. The pair is expected to find its first resistance at 104.93, and a rise through could take it to the next resistance level of 105.22.
Amid lack of economic releases from Japan today, traders are expected to keep a 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.
