USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.05% against the JPY and closed at 109.46 on Friday.
Data showed that Japan’s consumer confidence index increased to 38.7 in November, compared to a reading of 36.2 in October. On the other hand, housing starts fell 7.4% to a level of 0.88 million in October, compared to a level of 0.90 million in the previous month.
In the Asian session, at GMT0400, the pair is trading at 109.70, with the USD trading 0.22% higher against the JPY from Friday’s close.
Overnight data indicated that Japan’s Jibun Bank manufacturing PMI advanced to 48.9 in November, compared to a reading of 48.6 in the previous month.
The pair is expected to find support at 109.49, and a fall through could take it to the next support level of 109.28. The pair is expected to find its first resistance at 109.82, and a rise through could take it to the next resistance level of 109.94.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
