For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 108.68.

In the Asian session, at GMT0400, the pair is trading at 108.60, with the USD trading 0.07% lower against the JPY from yesterday’s close.

The pair is expected to find support at 108.35, and a fall through could take it to the next support level of 108.10. The pair is expected to find its first resistance at 108.96, and a rise through could take it to the next resistance level of 109.32.

- advertisement -

Moving ahead, traders would await Japan’s trade balance for October, scheduled to release overnight.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.