USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the JPY and closed at 112.88 on Friday.
In the Asian session, at GMT0400, the pair is trading at 113.19, with the USD trading 0.27% higher against the JPY from Friday’s close.
Overnight data showed that, in Japan, the flash manufacturing PMI dropped to 51.8 in
November, compared to a level of 52.9 in the previous month. Additionally, the nation’s leading economic index rose to a level of 104.3 in September, following a reading of 103.9 in the prior month. Moreover, the coincident index declined to a level of 114.4 in September, compared to a level of 114.6 in the preceding month. The pair is expected to find support at 112.80, and a fall through could take it to the next support level of 112.42. The pair is expected to find its first resistance at 113.43, and a rise through could take it to the next resistance level of 113.68.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
