USD/JPY: Japan’s manufacturing sector activity advanced in October


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 112.92.

In the Asian session, at GMT0400, the pair is trading at 112.86, with the USD trading 0.05% lower against the JPY from yesterday’s close.

Overnight data indicated that, Japan’s final manufacturing PMI climbed to a level of 52.9 in October, compared to a reading of 52.5 in the previous month. The preliminary figures had indicated a rise to 53.1.

The pair is expected to find support at 112.59, and a fall through could take it to the next support level of 112.32. The pair is expected to find its first resistance at 113.26, and a rise through could take it to the next resistance level of 113.66.

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

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