USD/JPY: Japan’s services sector grew at its slowest pace in nearly a year in September


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.1% against the JPY and closed at 112.83.

In the Asian session, at GMT0300, the pair is trading at 112.66, with the USD trading 0.15% lower against the JPY from yesterday’s close.

Data released overnight showed that Japan’s Nikkei services PMI registered a drop to a level of 51.0 in September, expanding at its weakest pace in eleven months, amid a slowdown in new orders. The PMI had registered a level of 51.6 in the prior month.

The pair is expected to find support at 112.38, and a fall through could take it to the next support level of 112.1. The pair is expected to find its first resistance at 113.07, and a rise through could take it to the next resistance level of 113.48.

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

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