USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.27% against the JPY and closed at 119.83.
In the Asian session, at GMT0300, the pair is trading at 119.88, with the USD trading marginally higher from yesterday’s close.
Overnight data revealed that Japan’s adjusted merchandise trade deficit dropped more-than-expected to ¥355.7 billion in September, following a downwardly revised ¥373.5 billion shortfall in August.
Early morning data showed that Japan’s all industry activity index declined 0.2% MoM in August, as expected, from a downwardly revised 0.1% fall in the previous month.
The pair is expected to find support at 119.53, and a fall through could take it to the next support level of 119.18. The pair is expected to find its first resistance at 120.11, and a rise through could take it to the next resistance level of 120.33.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
