USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.82% against the JPY and closed at 119.34.
In the Asian session at GMT0400, the pair is trading at 119.55, with the USD trading 0.18% higher from yesterday’s close.
Overnight data showed that Japan’s monetary base rose 29.5% YoY in December, following a spike of 32.5% in the previous month.
The pair is expected to find support at 118.90, and a fall through could take it to the next support level of 118.24. The pair is expected to find its resistance at 120.01, and a rise through could take it to the next resistance level of 120.48.
Going ahead, investors await the release of Japan’s Nikkei services PMI data for December, due in the early hours tomorrow.
The currency pair is trading between its 20 Hr and 50 Hr moving average.
