USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the JPY and closed at 113.39 on Friday.
In the Asian session, at GMT0400, the pair is trading at 113.89, with the USD trading 0.44% higher against the JPY from Friday’s close.
Overnight data indicated that Japanese flash gross domestic product (GDP) advanced 0.2% on a quarterly basis in 4Q 2016, undershooting market expectations for an advance of 0.3%. In the prior quarter, GDP had risen 0.3%.
The pair is expected to find support at 113.10, and a fall through could take it to the next support level of 112.31. The pair is expected to find its first resistance at 114.42, and a rise through could take it to the next resistance level of 114.95.
Looking ahead, Japan’s final industrial production for December, due to release tomorrow, will be on investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
