USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 1.05% against the JPY and closed at 110.96.
In the Asian session, at GMT0300, the pair is trading at 111.23, with the USD trading 0.24% higher against the JPY from yesterday’s close.
Overnight data revealed that Japan’s all industry activity index rose more-than-anticipated by 0.7% MoM in February, compared to an advance of 0.1% in the prior month. Markets were expecting the index to rise 0.6%.
The pair is expected to find support at 110.26, and a fall through could take it to the next support level of 109.28. The pair is expected to find its first resistance at 111.79, and a rise through could take it to the next resistance level of 112.34.
Looking ahead, investors will concentrate on Bank of Japan’s (BoJ) interest rate decision, due to be announced tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
