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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.12% against the JPY and closed at 112.72.

In the Asian session, at GMT0300, the pair is trading at 113.07, with the USD trading 0.31% higher against the JPY from yesterday’s close.

In economic news, Japan’s monetary base registered a less-than-expected rise of 15.6% YoY in September, compared to market expectations for an advance of 16.7%. In the prior month, the monetary base had climbed 16.3%.

The pair is expected to find support at 112.68, and a fall through could take it to the next support level of 112.28. The pair is expected to find its first resistance at 113.32, and a rise through could take it to the next resistance level of 113.56.

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

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