USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the JPY and closed at 117.30.
In the Asian session, at GMT0400, the pair is trading at 117.35, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 116.84, and a fall through could take it to the next support level of 116.34. The pair is expected to find its first resistance at 117.76, and a rise through could take it to the next resistance level of 118.18.
Moving ahead, Japan’s final Nikkei manufacturing PMI for December, scheduled to release overnight, will be on investor’s radar.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
