USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.03% against the JPY and closed at 113.14.
In the Asian session, at GMT0400, the pair is trading at 113.67, with the USD trading 0.47% higher against the JPY from yesterday’s close.
Early morning data indicated that Japan’s flash Nikkei manufacturing PMI rose to a level of 53.5 in February, expanding at its quickest pace in almost three-years, proving evidence that domestic and overseas demand is improving. In the prior month, the PMI had registered a reading of 52.7. On the other hand, the nation’s all industry activity index dropped more-than-expected by 0.3% on a monthly basis in December, compared to a revised advance of 0.4% in the previous month.
The pair is expected to find support at 113.19, and a fall through could take it to the next support level of 112.71. The pair is expected to find its first resistance at 113.92, and a rise through could take it to the next resistance level of 114.17.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
