USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.45% against the JPY and closed at 114.15.
Overnight data revealed that Japan’s monetary base rose 14.5% on an annual basis in October, from a gain of 15.6% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 113.89, with the USD trading 0.23% lower from yesterday’s close.
Early today, data showed that Japan’s consumer confidence index unexpectedly rose to 44.5 in October, compared to a reading of 43.9 in the previous month. Market expectation was for the consumer confidence index to ease to a level of 43.6.
The pair is expected to find support at 113.65, and a fall through could take it to the next support level of 113.42. The pair is expected to find its first resistance at 114.2, and a rise through could take it to the next resistance level of 114.52.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
