USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.13% against the JPY and closed at 78.07, after the Institute for Supply Management’s (ISM) factory index in the US rose to 51.5 in September, from 49.6 in August.
In the Asian session, at GMT0300, the pair is trading at 78.13, with the USD trading 0.09% higher from yesterday’s close.
This morning, in Japan the monetary base jumped 9.0% (YoY) in September, standing at ¥124.326 trillion, compared to a 6.5% rise in August.
The pair is expected to find support at 77.90, and a fall through could take it to the next support level of 77.66. The pair is expected to find its first resistance at 78.26, and a rise through could take it to the next resistance level of 78.39.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
