USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.28% against the JPY and closed at 121.05.
In the Asian session, at GMT0400, the pair is trading at 120.63, with the USD trading 0.34% lower from yesterday’s close.
Overnight data showed that Japan’s corporate service index rose 0.6% YoY in September, matching market expectations, after advancing by an upwardly revised 0.8% in August.
The pair is expected to find support at 120.34, and a fall through could take it to the next support level of 120.05. The pair is expected to find its first resistance at 121.06, and a rise through could take it to the next resistance level of 121.49.
Moving ahead, market participants will look forward to Japan’s retail trade and large retailer’s sales data, both for the month of September, scheduled to be released overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
