USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.38% against the JPY and closed at 104.32.
In economic news, data showed that Japan’s final leading economic index rose to a level of 100.9 in August, compared to a reading of 100.0 in the previous month. On the contrary, the nation’s final coincident index dropped to a level of 112.0 in August after recording a reading of 112.1 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 104.46, with the USD trading 0.13% higher against the JPY from yesterday’s close.
The pair is expected to find support at 103.94, and a fall through could take it to the next support level of 103.41. The pair is expected to find its first resistance at 104.74, and a rise through could take it to the next resistance level of 105.01.
Looking ahead, Japan’s small business confidence index for October, due to release tomorrow, would be on investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
