USD/JPY: Japan’s services sector growth cooled in November


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.23% against the JPY and closed at 112.48.

In the Asian session, at GMT0400, the pair is trading at 112.53, with the USD trading marginally higher against the JPY from yesterday’s close.

Overnight data showed that Japan’s Nikkei services PMI declined to a level of 51.2 in November, after recording a two-year high level of 53.4 in October.

The pair is expected to find support at 112.24, and a fall through could take it to the next support level of 111.94. The pair is expected to find its first resistance at 112.96, and a rise through could take it to the next resistance level of 113.38.

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

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