USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.06% against the JPY and closed at 116.91.
In the Asian session, at GMT0400, the pair is trading at 117.22, with the USD trading 0.26% higher from Friday’s close.
Over the weekend, data showed that Japan recorded a (BOP basis) trade surplus of ¥188.7 billion in December, compared to a trade deficit ¥271.5 billion in the previous month. Markets were anticipating the nation to post a trade surplus of ¥305.3 billion.
Early morning data showed that, Japan’s Eco watcher’s outlook index rose to a level of 49.5 in January, from a reading of 48.2 in the previous month. Meanwhile, the current index of Economy Watchers’ survey declined to a level of 46.6 in January from a 4-month high of 48.7 in December
The pair is expected to find support at 116.54, and a fall through could take it to the next support level of 115.85. The pair is expected to find its first resistance at 117.67, and a rise through could take it to the next resistance level of 118.11.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
