USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.28% against the JPY and closed at 101.66.
In the Asian session, at GMT0300, the pair is trading at 102.22, with the USD trading 0.55% higher against the USD from yesterday’s close.
Overnight data showed that Japan’s monetary base rose 22.7% on an annual basis in September, following an advance of 24.2% in the previous month.
The pair is expected to find support at 101.50, and a fall through could take it to the next support level of 100.78. The pair is expected to find its first resistance at 102.66, and a rise through could take it to the next resistance level of 103.10.
Looking forward, Japan’s Nikkei services PMI for September, slated to release in the early hours’ tomorrow, would be on investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
