USD/JPY: Japan’s manufacturing PMI fell to its lowest level in 13-months in November


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.14% against the JPY and closed at 113.60 on Friday.

In the Asian session, at GMT0400, the pair is trading at 113.52, with the USD trading 0.07% lower against the JPY from Friday’s close.

Data indicated that Japan’s final manufacturing PMI fell to a level of 52.2 in November, amid slowdown in economic growth and marking its lowest level since August 2017. In the preceding month, the PMI had recorded a level of 52.9, while preliminary figures had indicated a fall to a level of 51.8.

The pair is expected to find support at 113.31, and a fall through could take it to the next support level of 113.09. The pair is expected to find its first resistance at 113.78, and a rise through could take it to the next resistance level of 114.03.

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

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