USD/JPY: Japanese Yen trading a tad lower in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD slightly rose against the JPY and closed at 112.82.

In the Asian session, at GMT0300, the pair is trading at 112.85, with the USD trading marginally higher against the JPY from yesterday’s close.

On the data front, Japan’s labour cash earnings rebounded 0.9% on an annual basis in August, compared to a fall of 0.3% in the prior month. Markets had anticipated for a gain of 0.5%.

The pair is expected to find support at 112.54, and a fall through could take it to the next support level of 112.24. The pair is expected to find its first resistance at 113.02, and a rise through could take it to the next resistance level of 113.20.

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

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