USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 113.40.
Macroeconomic data indicated that Japan’s final leading economic index climbed to a level of 107.2 in August, revised higher from a level of 106.8 registered in the preliminary print. The index had recorded a reading of 105.2 in the previous month. Further, the nation’s final coincident index rose more than initially estimated to a level of 117.7 in August, compared to a reading of 115.7 in the previous month, while the flash print had indicated an increase to a level of 117.6.
In the Asian session, at GMT0300, the pair is trading at 113.35, with the USD trading marginally lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s flash Nikkei manufacturing PMI eased to a level of 52.5 in October, following a level of 52.9 in the previous month.
The pair is expected to find support at 113.08, and a fall through could take it to the next support level of 112.8. The pair is expected to find its first resistance at 113.8, and a rise through could take it to the next resistance level of 114.24.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
