Japanese Yen Trading On A Weaker Footing This Morning
GCI Financial | May 11, 2015 02:09AM ET
On Friday, the USD traded a tad higher against the JPY and closed at 119.74, after the US unemployment rate edged down in April.
In the Asian session, at GMT0300, the pair is trading at 119.88, with the USD trading 0.12% higher from Friday’s close.
The pair is expected to find support at 119.56, and a fall through could take it to the next support level of 119.24. The pair is expected to find its first resistance at 120.23, and a rise through could take it to the next resistance level of 120.57.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
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