USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.15% against the JPY and closed at 108.93.
In economic news, Japan’s final coincident index rose to a level of 101.1 in September, compared to a revised reading of 99.0 in the prior month. Market participants had anticipated the index to advance to a level of 101.0. Meanwhile, the nation’s final leading economic index remained steady at a level of 91.9 in September, confirming the preliminary print and defying market expectations for a rise to a level of 92.2.
In the Asian session, at GMT0400, the pair is trading at 108.98, with the USD trading 0.05% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.74, and a fall through could take it to the next support level of 108.49. The pair is expected to find its first resistance at 109.22, and a rise through could take it to the next resistance level of 109.45.
In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
