USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.43% against the JPY and closed at 114.12.
In the Asian session, at GMT0300, the pair is trading at 114.16, with the USD trading slightly higher against the JPY from yesterday’s close.
Overnight data indicated that Japan’s national consumer price index (CPI) rose 0.7% on an annual basis in September, meeting market expectations and compared to a similar rise in the previous month.
The pair is expected to find support at 113.58, and a fall through could take it to the next support level of 113.00. The pair is expected to find its first resistance at 114.50, and a rise through could take it to the next resistance level of 114.84.
Going ahead, investors would focus on the Bank of Japan’s (BoJ) monetary policy decision, scheduled next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
