USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the JPY and closed at 114.00.
In the Asian session, at GMT0400, the pair is trading at 114.01, with the USD trading a tad higher against the JPY from yesterday’s close.
Earlier in the session, Japan’s preliminary coincident index advanced less-than-expected to a level of 113.1 in October, compared to a reading of 112.7 in the prior month. Further, the nation’s leading index rose less-than-anticipated to a level of 101.0 in October, following a reading of 100.3 in the preceding month.
The pair is expected to find support at 113.58, and a fall through could take it to the next support level of 113.15. The pair is expected to find its first resistance at 114.37, and a rise through could take it to the next resistance level of 114.73.
Investors would focus on Japan’s final annualised GDP for the third quarter, (BOP basis) trade balance and Eco-watchers survey data, all scheduled to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
