Fundamental Analysis

USD/JPY: Japanese Yen Trading Lower In The Morning Session


For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 112.52.

In the Asian session, at GMT0400, the pair is trading at 112.72, with the USD trading 0.18% higher against the JPY from yesterday’s close.

The pair is expected to find support at 112.36, and a fall through could take it to the next support level of 111.99. The pair is expected to find its first resistance at 112.99, and a rise through could take it to the next resistance level of 113.25.

Looking ahead, market participants will eye minutes of the Bank of Japan’s (BoJ) recent monetary policy meeting along with Japan’s adjusted merchandise trade balance for February, due to release overnight.

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

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