USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.28% against the JPY and closed at 120.72.
In the Asian session, at GMT0300, the pair is trading at 120.8, with the USD trading 0.06% higher from yesterday’s close.
Overnight data indicated that Japan’s BSI large manufacturing index rebounded to a level of 11.0 on a quarterly basis in 3Q 2015, following a reading of -6.0 recorded in the preceding quarter.
The pair is expected to find support at 120.29, and a fall through could take it to the next support level of 119.78. The pair is expected to find its first resistance at 121.32, and a rise through could take it to the next resistance level of 121.85.
Going forward, investors look forward to the outcome of the BoJ’s monetary policy meeting, scheduled next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
