USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.18% against the JPY and closed at 79.46.
On the economic front, Japanese industrial production fell 4.1% (MoM) in September, in line with preliminary estimate. Meanwhile, capacity utilization fell 5.5% (MoM) in September, following a 2.6% drop in August.
In the Asian session, at GMT0400, the pair is trading at 79.52, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 79.29, and a fall through could take it to the next support level of 79.06. The pair is expected to find its first resistance at 79.67, and a rise through could take it to the next resistance level of 79.82.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
