USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.57% against the JPY and closed at 104.08.
In the Asian session, at GMT0300, the pair is trading at 104.61, with the USD trading 0.51% higher against the JPY from yesterday’s close.
The pair is expected to find support at 104.05, and a fall through could take it to the next support level of 103.48. The pair is expected to find its first resistance at 105.02, and a rise through could take it to the next resistance level of 105.42.
With no macroeconomic news in Japan today, trading trend in the local currency is expected to be determined by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
