USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.75% against the JPY and closed at 112.44.
In the Asian session, at GMT0400, the pair is trading at 112.86, with the USD trading 0.37% higher from Friday’s close.
Early this morning, data indicated that Japan’s flash Nikkei manufacturing PMI declined more-than-expected to a level of 50.2 in February, its lowest reading since June 2015 and showing signs that the nation’s overseas demand is falling sharply. Markets expected it to fall to a level of 52.0, compared to a reading of 52.3 in the preceding month.
The pair is expected to find support at 112.37, and a fall through could take it to the next support level of 111.87. The pair is expected to find its first resistance at 113.29, and a rise through could take it to the next resistance level of 113.72.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
