USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.21% against the JPY and closed at 117.82, following the release of a robust US jobs report.
In the Asian session, at GMT0400, the pair is trading at 117.39, with the USD trading 0.36% lower from Friday’s close.
The pair is expected to find support at 116.44, and a fall through could take it to the next support level of 115.49. The pair is expected to find its first resistance at 118.60, and a rise through could take it to the next resistance level of 119.80.
Moving ahead, investors will look forward to Japan’s trade balance data for November, scheduled to release overnight. Additionally, the nation’s consumer confidence and Eco watchers survey data, both for the month of December, due tomorrow morning, will also attract a significant amount of market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
