HomeContributorsFundamental AnalysisJapanese Yen Trading Slightly Higher In The Morning Session

Japanese Yen Trading Slightly Higher In The Morning Session

For the 24 hours to 23:00 GMT, the USD rose 0.36% against the JPY and closed at 109.65.

In the Asian session, at GMT0300, the pair is trading at 109.64, with the USD trading a tad lower against the JPY from yesterday’s close.

The pair is expected to find support at 109.46, and a fall through could take it to the next support level of 109.29. The pair is expected to find its first resistance at 109.79, and a rise through could take it to the next resistance level of 109.95.

Going forward, investors would closely monitor Japan’s machine tool orders for April, scheduled to release in a while.

The currency pair is showing convergence with 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