USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.88% against the JPY and closed at 112.11 on Friday.
In the Asian session, at GMT0400, the pair is trading at 112.03, with the USD trading 0.07% lower against the JPY from Friday’s close.
Overnight data showed that Japan’s adjusted merchandise trade surplus unexpectedly widened to ¥322.9 billion in October, against market consensus for a decline to ¥206.7 billion. In the prior month, the nation posted an adjusted merchandise trade surplus of ¥240.3 billion.
The pair is expected to find support at 111.72, and a fall through could take it to the next support level of 111.40. The pair is expected to find its first resistance at 112.52, and a rise through could take it to the next resistance level of 113.00.
Going ahead, investors would look forward to Japan’s all industry activity index for September, slated to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
