USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.67% against the JPY and closed at 117.85.
In the Asian session, at GMT0400, the pair is trading at 117.66, with the USD trading 0.16% lower against the JPY from yesterday’s close.
Earlier in the session, Japan’s all industry activity index advanced more than expected by 0.2% on a monthly basis in October, following a similar rise in the preceding month and compared to market expectations for the index to advance 0.1%.
The pair is expected to find support at 117.12, 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 118.22, and a rise through could take it to the next resistance level of 118.78.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
