USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened marginally against the JPY and closed at 97.39.
In the Asian session, at GMT0300, the pair is trading at 97.27, with the USD trading 0.13% lower from yesterday’s close. Earlier today, a report showed that Japan’s national consumer price index rose 1.1% (YoY) in September, more than analysts’ call for a rise of 0.9%. Meanwhile, Japan’s corporate service price index advanced less than expected 0.7% (YoY) in September, following a similar rise witnessed in the previous month.
The pair is expected to find support at 97.09, and a fall through could take it to the next support level of 96.92. The pair is expected to find its first resistance at 97.54, and a rise through could take it to the next resistance level of 97.81.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
