USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened marginally against the JPY and closed at 122.90.
In the Asian session, at GMT0400, the pair is trading at 122.75, with the USD trading 0.12% lower from yesterday’s close.
Early morning data showed that Japan’s preliminary Nikkei manufacturing PMI rose to a level of 52.8 in November, expanding at its fastest pace in 20 months, and compared to a reading of 52.4 in the previous month.
The pair is expected to find support at 122.52, and a fall through could take it to the next support level of 122.29. The pair is expected to find its first resistance at 123.13, and a rise through could take it to the next resistance level of 123.5.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
