USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.39% against the JPY and closed at 115.38.
In the Asian session, at GMT0400, the pair is trading at 114.41, with the USD trading 0.84% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s trade surplus (BOP basis) narrowed less-than-expected to ¥313.4 billion in November, from a surplus of ¥587.6 billion in the prior month. Market anticipation was for the nation to record a surplus of ¥254.4 billion. On the contrary, the nation’s adjusted (total) current account surplus narrowed to ¥1799.6 billion in November, more than market consensus for it to narrow to ¥1870.4 billion and following a surplus of ¥1928.90 billion in the previous month.
Earlier in the session, data indicated that the nation’s Eco-Watchers survey for the current situation remained steady at 51.4 in December, while the Eco-Watchers survey for the future outlook fell to a level of 50.9 in December, compared to a revised reading of 51.3 in the prior month.
The pair is expected to find support at 113.48, and a fall through could take it to the next support level of 112.54. The pair is expected to find its first resistance at 116.1, and a rise through could take it to the next resistance level of 117.78.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
