HomeContributorsFundamental AnalysisJapanese Yen Extends Its Gains In The Asian Session

Japanese Yen Extends Its Gains In The Asian Session

For the 24 hours to 23:00 GMT, the USD declined 0.06% against the JPY and closed at 107.73.

In the Asian session, at GMT0400, the pair is trading at 107.33, with the USD trading 0.37% lower against the JPY from yesterday’s close.

The pair is expected to find support at 107.02, and a fall through could take it to the next support level of 106.71. The pair is expected to find its first resistance at 107.77, and a rise through could take it to the next resistance level of 108.21.

Moving ahead, market participants would closely monitor Japan’s inflation figures for January, scheduled to release overnight.

The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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