USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.74% against the JPY and closed at 123.25.
In the Asian session, at GMT0400, the pair is trading at 123.39, with the USD trading 0.11% higher from yesterday’s close.
Overnight data showed that Japan’s housing loans rose 2.4% YoY in 3Q 2015, after registering a similar rise in the previous quarter.
The pair is expected to find support at 122.71, and a fall through could take it to the next support level of 122.03. The pair is expected to find its first resistance at 123.74, and a rise through could take it to the next resistance level of 124.10.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
