HomeContributorsFundamental AnalysisJapanese Yen Extends It Losses In The Asian Session

Japanese Yen Extends It Losses In The Asian Session

For the 24 hours to 23:00 GMT, the USD rose 0.25% against the JPY and closed at 110.45.

On the macro front, Japan’s tertiary industry index registered a rise of 1.0% on a monthly basis in April, more than market expectations for an advance of 0.6%. In the prior month, the tertiary industry index had dropped 0.3%.

In the Asian session, at GMT0300, the pair is trading at 110.62, with the USD trading 0.15% higher against the JPY from yesterday’s close.

The pair is expected to find support at 110.27, and a fall through could take it to the next support level of 109.93. The pair is expected to find its first resistance at 110.79, and a rise through could take it to the next resistance level of 110.97.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

GCI Financial
GCI Financialhttp://www.gcitrading.com/
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.

Featured Analysis

Learn Forex Trading