USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 1.85% against the JPY and closed at 107.36.
In the Asian session, at GMT0400, the pair is trading at 107.19, with the USD trading 0.16% lower against the JPY from yesterday’s close.
The pair is expected to find support at 104.89, and a fall through could take it to the next support level of 102.58. The pair is expected to find its first resistance at 109.48, and a rise through could take it to the next resistance level of 111.76.
Moving ahead, investors would closely monitor Japan’s Nikkei manufacturing PMI for December, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
