Sat, Dec 28, 2024 @ 05:55 GMT
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Japanese Yen Extends Its Losses In The Asian Session

GCI Financial
By GCI Financial

For the 24 hours to 23:00 GMT, the USD rose 0.51% against the JPY and closed at 106.49.

In the Asian session, at GMT0300, the pair is trading at 106.71, with the USD trading 0.21% higher against the JPY from yesterday’s close.

The pair is expected to find support at 106.18, and a fall through could take it to the next support level of 105.65. The pair is expected to find its first resistance at 106.99, and a rise through could take it to the next resistance level of 107.27.

Moving forward, traders would keep a watch on Japan’s producer price index for July, slated to release overnight.

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

GCI Financial
GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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