USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.14% against the JPY and closed at 113.45.
In the Asian session, at GMT0400, the pair is trading at 113.16, with the USD trading 0.26% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s flash gross domestic product (GDP) climbed 0.3% on a quarterly basis in the third quarter of 2017, undershooting market consensus for a rise of 0.4%. The nation’s GDP had risen 0.6% in the previous quarter.
Early morning data revealed that the nation’s final industrial production dropped less than initially estimated by 1.0% on a monthly basis in September, while the preliminary figures had recorded a drop of 1.1%. In the prior month, industrial production had climbed 2.0%.
The pair is expected to find support at 112.82, and a fall through could take it to the next support level of 112.49. The pair is expected to find its first resistance at 113.70, and a rise through could take it to the next resistance level of 114.25.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
