USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.48% against the JPY and closed at 108.42.
In the Asian session, at GMT0400, the pair is trading at 108.36, with the USD trading 0.06% lower against the JPY from yesterday’s close.
Early morning data showed that Japan’s consumer confidence index rose to a level of 39.1 in December, compared to a reading of 38.7 in the prior month.
The pair is expected to find support at 107.80, and a fall through could take it to the next support level of 107.23. The pair is expected to find its first resistance at 108.78, and a rise through could take it to the next resistance level of 109.19.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
