USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.93% against the JPY and closed at 112.54.
In the Asian session, at GMT0400, the pair is trading at 112.68, with the USD trading 0.12% higher against the JPY from yesterday’s close.
Early morning data showed that Japan’s flash Nikkei manufacturing PMI rose to a level of 52.8 in January, expanding at the fastest pace in almost three years, compared to a level of 52.4 in the previous month.
The pair is expected to find support at 112.10, and a fall through could take it to the next support level of 111.51. The pair is expected to find its first resistance at 113.66, and a rise through could take it to the next resistance level of 114.63.
Moving ahead, investors will look forward to Japan’s adjusted merchandise trade balance for December, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
