USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the JPY and closed at 114.16.
In the Asian session, at GMT0400, the pair is trading at 113.91, with the USD trading 0.22% lower against the JPY from yesterday’s close.
The pair is expected to find support at 113.40, and a fall through could take it to the next support level of 112.88. The pair is expected to find its first resistance at 114.57, and a rise through could take it to the next resistance level of 115.22.
Investors next week would focus on a speech by BoJ Governor, Haruhiko Kuroda coupled with Japan’s final annualised GDP for 3Q, Nikkei services PMI and consumer confidence, both for November.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
