Japanese Yen Reverses Its Gains In The Asian Session
GCI Financial | Jul 28, 2015 03:13AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.45% against the JPY and closed at 123.28.
In the Asian session, at GMT0300, the pair is trading at 123.44, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 123.08, and a fall through could take it to the next support level of 122.71. The pair is expected to find its first resistance at 123.74, and a rise through could take it to the next resistance level of 124.04.
Moving ahead, Japan’s national consumer price inflation and employment data, scheduled this week would remain in the spotlight.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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