USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.76% against the JPY and closed at 113.31.
In the Asian session, at GMT0400, the pair is trading at 113.39, with the USD trading 0.07% higher against the JPY from yesterday’s close.
Overnight data showed that, Japan’s national consumer price index (CPI) rose by 0.1% on an annual basis in October. In the prior month, the CPI had dropped by 0.5%.
The pair is expected to find support at 112.68, and a fall through could take it to the next support level of 111.96. The pair is expected to find its first resistance at 114.00, and a rise through could take it to the next resistance level of 114.60.
Moving ahead, market participants await the release of Japan’s unemployment rate, retail trade and industrial production, all for October and final Nikkei manufacturing PMI for November, all due to release next week.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
