USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the JPY and closed at 110.49.
In the Asian session, at GMT0300, the pair is trading at 110.52, with the USD trading slightly higher against the JPY from yesterday’s close.
Earlier in the session, data showed that Japan’s final industrial production slid 0.8% MoM in July, confirming the flash estimate. Industrial production had recorded a rise of 2.2% in the previous month.
The pair is expected to find support at 110.04, and a fall through could take it to the next support level of 109.57. The pair is expected to find its first resistance at 110.86, and a rise through could take it to the next resistance level of 111.21.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
