USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 1.67% against the JPY and closed at 114.37.
In the Asian session, at GMT0400, the pair is trading at 114.23, with the USD trading 0.12% lower against the JPY from yesterday’s close.
Data released overnight revealed that Japan’s final manufacturing PMI slipped to a level of 51.3 in November, compared to a reading of 51.4 reported in the earlier month. The PMI recorded a reading of 51.1 in the preliminary print.
The pair is expected to find support at 112.78, and a fall through could take it to the next support level of 111.33. The pair is expected to find its first resistance at 115.25, and a rise through could take it to the next resistance level of 116.27.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
