USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.20% against the JPY and closed at 109.34 on Friday.
In the Asian session, at GMT0400, the pair is trading at 109.39, with the USD trading 0.05% higher against the JPY from Friday’s close.
Overnight data showed that Japan’s Jibun manufacturing PMI dropped to a level of 48.8 in December, contracting for the eighth straight month, however less than market consensus for a fall to a level of 48.4. In the prior month, the PMI had recorded a level of 48.9.
The pair is expected to find support at 109.16, and a fall through could take it to the next support level of 108.94. The pair is expected to find its first resistance at 109.66, and a rise through could take it to the next resistance level of 109.94.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
