USD/JPY: Japan’s industrial production climbed less-than-anticipated in July


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.70% against the JPY and closed at 112.02.

In the Asian session, at GMT0300, the pair is trading at 111.88, with the USD trading 0.12% lower against the JPY from yesterday’s close.

Earlier in the session data showed that Japan’s final industrial production advanced 2.2% on a yearly basis in July, while preliminary figures had indicated a rise of 2.3%. In the previous month, industrial production had recorded a drop of 0.9%.

The pair is expected to find support at 111.45, and a fall through could take it to the next support level of 111.01. The pair is expected to find its first resistance at 112.20, and a rise through could take it to the next resistance level of 112.51.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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