USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.59% against the JPY and closed at 106.83.
In economic news, the BSI of large manufacturing industries in Japan registered a rise of 12.7% on a QoQ basis, in 3Q 2014. It had dropped 13.9% in the prior quarter.
In the Asian session, at GMT0300, the pair is trading at 106.74, with the USD trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 106.35, and a fall through could take it to the next support level of 105.96. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.29.
Going forward, investors look forward to the release of Japan’s industrial production data, scheduled tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
