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


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.52% against the JPY and closed at 112.06 on Friday.

In the Asian session, at GMT0400, the pair is trading at 112.75, with the USD trading 0.62% higher against the JPY from Friday’s close.

Overnight data showed that Japan’s monetary base climbed 13.2% on an annual basis in November. In the previous month, monetary base had recorded a rise of 14.5%.

The pair is expected to find support at 111.81, and a fall through could take it to the next support level of 110.86. The pair is expected to find its first resistance at 113.30, and a rise through could take it to the next resistance level of 113.84.

Looking forward, investors would focus on Japan’s Nikkei services PMI for November, scheduled to release overnight.

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

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