USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the JPY and closed at 111.88 on Friday.
In the Asian session, at GMT0300, the pair is trading at 112, with the USD trading 0.11% higher against the JPY from Friday’s close.
Early morning data indicated that Japan’s final industrial production rebounded less than initially estimated by 2.0% on a monthly basis in August, while the preliminary figures had recorded a rise of 2.1%. Industrial production had dropped 0.8% in the prior month.
The pair is expected to find support at 111.7, and a fall through could take it to the next support level of 111.41. The pair is expected to find its first resistance at 112.28, and a rise through could take it to the next resistance level of 112.57.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
