Japanese Yen Morning session-Trading Higher

For the 24 hours to 23:00 GMT, the USD declined 0.47% against the JPY and closed at 113.31.
In the Asian session, at GMT0300, the pair is trading at 113.05, with the USD trading 0.23% lower against the JPY from yesterday’s close.

 

The pair is expected to find support at 112.74, and a fall through could take it to the next support level of 112.44. The pair is expected to find its first resistance at 113.54, and a rise through could take it to the next resistance level of 114.04.

 

Looking forward, Japan’s final industrial production for May, scheduled to release tomorrow, will garner market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.

 

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Pramod Baviskar

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