Japanese Yen Reverses Its Losses This Morning
GCI Financial | Jul 21, 2014 02:38AM ET
On Friday, the USD strengthened 0.23% against the JPY and closed at 101.36.
In the Asian session, at GMT0300, the pair is trading at 101.28, with the USD trading 0.08% lower from Friday’s close.
The pair is expected to find support at 101.21, and a fall through could take it to the next support level of 101.13. The pair is expected to find its first resistance at 101.41, and a rise through could take it to the next resistance level of 101.54.
As markets in Japan are closed on account of national holiday, investors would focus on the leading economic and coincident indices numbers to be released tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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