USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.93% against the JPY and closed at 116.84.
In the Asian session, at GMT0400, the pair is trading at 116.72, with the USD trading 0.1% lower from yesterday’s close.
Earlier today, Japan’s preliminary leading index declined more than expected to a level of 102.0 in December, following a reading of 103.5 in the preceding month and compared to market expectations of a fall to a level of 102.7. Additionally, the nation’s coincident index fell less than anticipated to a level of 111.2 in December, from 111.9 in the preceding month and compared to market expectations of a fall to a level of 111.0.
The pair is expected to find support at 116.10, and a fall through could take it to the next support level of 115.49. The pair is expected to find its first resistance at 117.76, and a rise through could take it to the next resistance level of 118.80.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
