USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.52% against the JPY and closed at 107.19.
Data showed that Japan’s consumer confidence index fell to an 8-year low level of 35.6 in September, compared to a reading of 37.1 in the previous month. Market participants had expected the index to ease to a level of 36.9.
In the Asian session, at GMT0300, the pair is trading at 107.13, with the USD trading 0.06% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s Nikkei services PMI declined to a level of 52.8 in September, following a level of 53.3 in the prior month.
The pair is expected to find support at 106.77, and a fall through could take it to the next support level of 106.41. The pair is expected to find its first resistance at 107.69, and a rise through could take it to the next resistance level of 108.25.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
