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Japanese Yen Reverses Its Losses In The Asian Session, Ahead Of Machine

By ForexAug 19, 2014 05:56AM GMT Add a Comment
 
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USD/JPY Daily Chart
USD/JPY Daily Chart

For the 24 hours to 23:00 GMT, the USD strengthened 0.24% against the JPY and closed at 102.63.

In the Asian session, at GMT0300, the pair is trading at 102.62, with the USD trading tad lower from yesterday’s close.

The pair is expected to find support at 102.36, and a fall through could take it to the next support level of 102.09. The pair is expected to find its first resistance at 102.77, and a rise through could take it to the next resistance level of 102.92.

Trading trends in the pair Yen are expected to be determined by Japan’s machine tool orders and merchandise trade data, scheduled later today.

The currency pair is trading just above its 20 Hr and 50 Hr moving averages.

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