USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.33% against the JPY and closed at 113.61.
In the Asian session, at GMT0400, the pair is trading at 113.50, with the USD trading 0.10% lower against the JPY from yesterday’s close.
Earlier today, in Japan, the flash manufacturing PMI rose to 52.4 in December, compared to a level of 52.2 in the previous month. Moreover, industrial production rose 2.9% on a monthly basis in October, in line with the preliminary figures. In the previous month, industrial production had recorded a drop of 0.4%.
The pair is expected to find support at 113.34, and a fall through could take it to the next support level of 113.19. The pair is expected to find its first resistance at 113.68, and a rise through could take it to the next resistance level of 113.87.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
