USD/JPY: Japanese Yen trading higher in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.33% against the JPY and closed at 113.61.

In the Asian session, at GMT0400, the pair is trading at 113.50, with the USD trading 0.10% lower against the JPY from yesterday’s close.

Earlier today, in Japan, the flash manufacturing PMI rose to 52.4 in December, compared to a level of 52.2 in the previous month. Moreover, industrial production rose 2.9% on a monthly basis in October, in line with the preliminary figures. In the previous month, industrial production had recorded a drop of 0.4%.

The pair is expected to find support at 113.34, and a fall through could take it to the next support level of 113.19. The pair is expected to find its first resistance at 113.68, and a rise through could take it to the next resistance level of 113.87.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.