USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the JPY and closed at 113.76.
In the Asian session, at GMT0400, the pair is trading at 113.56, with the USD trading 0.18% lower against the JPY from yesterday’s close.
Earlier in the session, Japan’s final industrial production climbed 0.7% in December, after recording a rise of 0.5% in the preliminary print, thus suggesting faster economic growth in the industrial sector. Industrial production had recorded a gain of 1.5% in the previous month.
The pair is expected to find support at 113.29, and a fall through could take it to the next support level of 113.03. The pair is expected to find its first resistance at 113.94, and a rise through could take it to the next resistance level of 114.33.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
