USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the JPY and closed at 112.14.
On the data front, Japan’s final coincident index advanced to a level of 116.7 in August, compared to a level of 116.1 in the previous month. The preliminary figures had indicated a rise to 117.5. Moreover, the nation’s final leading economic index rose to a level of 104.5 in August. In the previous month, the index had registered a reading of 103.9, while the preliminary figures had indicated a rise to 104.4.
In the Asian session, at GMT0300, the pair is trading at 112.11, with the USD trading slightly lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.71, and a fall through could take it to the next support level of 111.30. The pair is expected to find its first resistance at 112.63, and a rise through could take it to the next resistance level of 113.14.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
