USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.06% against the JPY and closed at 102.62 following better than expected economic data from the US.
In the Asian session, at GMT0300, the pair is trading at 102.53, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 102.34, and a fall through could take it to the next support level of 102.16. The pair is expected to find its first resistance at 102.83, and a rise through could take it to the next resistance level of 103.13.
Going forward, investor sentiments would be governed by Japan’s coincident and leading indices data, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
