Yen Trading Higher In The Asian Session, Ahead Of The Crucial Inflation
GCI Financial | Aug 27, 2015 05:50AM ET
For the 24 hours to 23:00 GMT, the USD rose 1.15% against the JPY and closed at 120.30.
In the Asian session, at GMT0300, the pair is trading at 120.10, with the USD trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 119.21, and a fall through could take it to the next support level of 118.32. The pair is expected to find its first resistance at 120.69, and a rise through could take it to the next resistance level of 121.27.
Trading trends in the Yen today are expected to be determined by unemployment rate, overall household spending and national CPI data for July, scheduled to be released tonight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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