USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 1.18% against the JPY and closed at 115.91.
In the Asian session, at GMT0400, the pair is trading at 115.34, with the USD trading 0.49% lower against the JPY from yesterday’s close.
Early morning data indicated that Japan’s consumer confidence index climbed to its highest level since September 2013, after it jumped to a level of 43.1 in December, surpassing market expectations of an increase to a level of 41.3 and after registering a reading of 40.9 in the prior month.
The pair is expected to find support at 114.51, and a fall through could take it to the next support level of 113.67. The pair is expected to find its first resistance at 116.85, and a rise through could take it to the next resistance level of 118.35.
Moving ahead, traders would concentrate on Japan’s flash leading and coincident indices, both for November, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
