USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.06% against the JPY and closed at 108.83.
In the Asian session, at GMT0300, the pair is trading at 108.63, with the USD trading 0.19% lower from yesterday’s close.
Early morning data indicated that, the preliminary manufacturing PMI in Japan unexpectedly eased to 51.7 in September, lower than market expectations of a rise to a level of 52.5 and down from 52.2 in August.
The pair is expected to find support at 108.25, and a fall through could take it to the next support level of 107.87. The pair is expected to find its first resistance at 109.01, and a rise through could take it to the next resistance level of 109.39.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
