USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the JPY and closed at 118.63.
In the Asian session, at GMT0400, the pair is trading at 118.71, with the USD trading 0.07% higher from yesterday’s close.
Overnight data showed that Japan’s seasonally adjusted retail trade fell 0.2% MoM in December, compared to a fall of 2.5% in the previous month.
The pair is expected to find support at 118.13, and a fall through could take it to the next support level of 117.56. The pair is expected to find its first resistance at 119.19, and a rise through could take it to the next resistance level of 119.67.
Looking ahead, market participants await the release of Japan’s national consumer price index, unemployment rate and industrial production data, all for December, slated to be released overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
