USDJPY Movement
For the 24 hours to 23:00 GMT, USD advanced 0.05% against the JPY and closed at 76.88.
On the economic front, Japan’s leading index rose to 92.9 in November, from a reading of 92.0 in October. Meanwhile, the coincident index retreated to 90.3 in November compared to a reading of 91.4 posted in October. The overall bank lending climbed 0.5% (YoY) in December from a 0.2% (YoY) rise in November.
This morning, current account surplus in Japan shrank for the ninth consecutive month to ¥138.5 billion in November, following a surplus of ¥562.4 billion recorded in October. Also, the trade deficit edged up to ¥585.1 billion in November, from a deficit of ¥206.1 billion in October.
In the Asian session, at GMT0400, the pair is trading at 76.85, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 76.77, and a fall through could take it to the next support level of 76.69. The pair is expected to find its first resistance at 76.98, and a rise through could take it to the next resistance level of 77.12.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
