USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the JPY and closed at 108.67.
In the Asian session, at GMT0400, the pair is trading at 108.97, with the USD trading 0.28% higher against the JPY from yesterday’s close.
Early morning data showed that, Japan’s consumer confidence fell to a level of 42.7 in December, compared to reading of 42.9 in the preceding month
The pair is expected to find support at 108.34, and a fall through could take it to the next support level of 107.70. The pair is expected to find its first resistance at 109.29, and a rise through could take it to the next resistance level of 109.60.
In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
