USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.50% against the JPY and closed at 108.65.
In the Asian session, at GMT0300, the pair is trading at 109.02, with the USD trading 0.35% higher from yesterday’s close.
Earlier today, data indicated that the Japanese national consumer price index rose 3.3%, on an annual basis, in August, at par with market expectations and compared to 3.4% increase registered in the previous month. Additionally, the Tokyo consumer price index advanced 2.9%, on an annual basis, in September, beating market expectations for a 2.7% increase. It had risen 2.8% in August.
The pair is expected to find support at 108.54, and a fall through could take it to the next support level of 108.05. The pair is expected to find its first resistance at 109.45, and a rise through could take it to the next resistance level of 109.88.
Going forward, investors would keenly wait for the release of Japan’s unemployment rate, due in the coming week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
