USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.41% against the JPY and closed at 113.69 on Friday.
In the Asian session, at GMT0400, the pair is trading at 113.44, with the USD trading 0.22% lower against the JPY from Friday’s close.
Data released overnight showed that Japan’s Nikkei services PMI advanced to a level of 51.8 in November, marking its highest reading since January 2016, against a reading of 50.5 in the prior month. On the other hand, the nation’s consumer confidence index unexpectedly fell to a level of 40.9 in November, compared to a reading of 42.3 in the prior month and confounding market expectations for the index to climb to a level of 42.8.
The pair is expected to find support at 112.79, and a fall through could take it to the next support level of 112.13. The pair is expected to find its first resistance at 114.15, and a rise through could take it to the next resistance level of 114.85.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
