Japanese Yen Extends Its Gains In The Morning Session
For the 24 hours to 23:00 GMT, the USD declined 0.2% against the JPY and closed at 112.27.
In the Asian session, at GMT0300, the pair is trading at 112.09, with the USD trading 0.16% lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.92, and a fall through could take it to the next support level of 111.76. The pair is expected to find its first resistance at 112.35, and a rise through could take it to the next resistance level of 112.62.
Going ahead, a speech by the BoJ Governor, Haruhiko Kuroda, scheduled later next week, will be on investors’ radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.