USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.57% against the JPY and closed at 118.61.
In the Asian session, at GMT0400, the pair is trading at 118.39, with the USD trading 0.19% lower from yesterday’s close.
Earlier today, data showed that Japan’s Markit/JMMA manufacturing PMI advanced to a level of 52.1 in January, compared to prior month’s reading of 52.0.
The pair is expected to find support at 117.48, and a fall through could take it to the next support level of 116.58. The pair is expected to find its first resistance at 119.06, and a rise through could take it to the next resistance level of 119.73.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
