Japanese Yen Reverses Its Gains In The Asian Session
GCI Financial | Apr 09, 2015 03:08AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.13% against the JPY and closed at 120.13.
In economic news, Japan’s Eco watchers survey for the current situation advanced to 52.20 in March, compared to a reading of 50.10 in the previous month. Markets were anticipating it to rise to 50.50. Meanwhile, Eco watchers survey for the future outlook in the nation recorded a rise to 53.40 in March, lower than market expectations to rise to 53.50.
In the Asian session, at GMT0300, the pair is trading at 120.30, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 119.83, and a fall through could take it to the next support level of 119.36. The pair is expected to find its first resistance at 120.59, and a rise through could take it to the next resistance level of 120.87.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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