USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.63% against the JPY and closed at 114.29 on Friday.
In the Asian session, at GMT0400, the pair is trading at 113.61, with the USD trading 0.59% lower against the JPY from Friday’s close.
Early morning data showed that Japan’s all industry activity index climbed 0.3% MoM in November, lower than market expectations for a rise of 0.4%. In the prior month, the index had recorded a revised flat reading. Further, the nation’s final leading economic index advanced to a level of 102.8 in November, following a reading of 100.8 in the prior month and compared to a revised reading of 108.0 in the preliminary figures. Also, the nation’s final coincident index rose to a level of 115.0 in November, compared to a revised reading of 113.5 in the preliminary print.
The pair is expected to find support at 112.89, and a fall through could take it to the next support level of 112.18. The pair is expected to find its first resistance at 114.85, and a rise through could take it to the next resistance level of 116.10.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
