USD/JPY: Japan’s industrial production declined in April


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.12% against the JPY and closed at 108.35.

In the Asian session, at GMT0300, the pair is trading at 108.30, with the USD trading 0.05% lower against the JPY from yesterday’s close.

Early morning data indicated that Japan’s final industrial production fell 1.1% on a yearly basis, in April, confirming the preliminary print. In the preceding month, the industrial production had recorded a decline of 4.3%.

The pair is expected to find support at 108.13, and a fall through could take it to the next support level of 107.97. The pair is expected to find its first resistance at 108.50, and a rise through could take it to the next resistance level of 108.71.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.