USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the JPY and closed at 118.58.
In the Asian session, at GMT0400, the pair is trading at 118.16, with the USD trading 0.15% lower from yesterday’s close.
Early this morning, data showed that Japan’s corporate service price index rose more than expected by 0.4% YoY in December, compared to a gain of 0.2% in the preceding month.
The pair is expected to find support at 117.83, and a fall through could take it to the next support level of 117.49. The pair is expected to find its first resistance at 118.68, and a rise through could take it to the next resistance level of 119.20.
Amid no macroeconomic releases in Japan today, investor’s sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
