USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.6% against the JPY and closed at 116.92.
In the Asian session, at GMT0400, the pair is trading at 117.09, with the USD trading 0.14% higher from yesterday’s close.
Earlier today, data indicated that, Japan’s all industry activity index fell more than expected by 1.0% MoM in November, following a previous month’s gain of 0.9% and compared to market expectation of a fall of 0.7%.
The pair is expected to find support at 116.21, and a fall through could take it to the next support level of 115.33. The pair is expected to find its first resistance at 117.73, and a rise through could take it to the next resistance level of 118.37.
Going ahead, investors will look forward to Japan’s manufacturing PMI, scheduled in the early hours tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
