For the 24 hours to 23:00 GMT, the USD rose 3.44% against the JPY and closed at 111.61 on Friday, as risk appetite was dampened due to increased number of coronavirus cases in South Korea.
In the Asian session, at GMT0400, the pair is trading at 111.56, with the USD trading marginally lower against the JPY from Friday’s close.
The pair is expected to find support at 111.20, and a fall through could take it to the next support level of 110.84. The pair is expected to find its first resistance at 111.98, and a rise through could take it to the next resistance level of 112.40.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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