USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 112.07 on Friday.
In the Asian session, at GMT0300, the pair is trading at 112.27, with the USD trading 0.18% higher against the JPY from Friday’s close.
Overnight data indicated that Japan’s flash Nikkei manufacturing PMI rose to a level of 52.6 in September, notching a four-month high, amid a pick-up in domestic and export orders. The PMI had registered a level of 52.2 in the previous month.
The pair is expected to find support at 111.77, and a fall through could take it to the next support level of 111.27. The pair is expected to find its first resistance at 112.65, and a rise through could take it to the next resistance level of 113.03.
Going ahead, investors will focus on a speech by the Bank of Japan (BoJ) Governor, Haruhiko Kuroda, due in some time.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
