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USD/JPY: Japanese Yen Trading On A Stronger Footing This Morning Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Oct 27 16 07:08 GMT

USD/JPY: Japanese Yen Trading On A Stronger Footing This Morning

For the 24 hours to 23:00 GMT, the USD rose 0.38% against the JPY and closed at 104.53.

In the Asian session, at GMT0300, the pair is trading at 104.37, with the USD trading 0.15% lower against the JPY from yesterday’s close.

The pair is expected to find support at 104.01, and a fall through could take it to the next support level of 103.65. The pair is expected to find its first resistance at 104.71, and a rise through could take it to the next resistance level of 105.05.

Looking ahead, market participants would closely monitor Japan’s unemployment rate and national consumer price index, both for September, due to release overnight.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

 

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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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