USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.49% against the JPY and closed at 112.56.
In the Asian session, at GMT0400, the pair is trading at 112.53, with the USD trading marginally lower against the JPY from yesterday’s close.
Earlier in the session, Japan’s all industry activity index slid 0.5% on a monthly basis in September, higher than market expectations for a drop of 0.4%. In the prior month, the index had recorded a revised rise of 0.2%.
The pair is expected to find support at 112.08, and a fall through could take it to the next support level of 111.63. The pair is expected to find its first resistance at 112.85, and a rise through could take it to the next resistance level of 113.17.
With no further macroeconomic releases in Japan today, Yen investors would look forward to global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
