USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.24% against the JPY and closed at 102.55, amid lingering uncertainty over Fed’s pace of stimulus measures.
In the Asian session, at GMT0400, the pair is trading at 102.54, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 102.19, and a fall through could take it to the next support level of 101.83. The pair is expected to find its first resistance at 102.86, and a rise through could take it to the next resistance level of 103.18.
Amid lack of economic releases from Japan today, traders are expected to await October industrial production data, slated for release on Friday.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
