USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.46% against the JPY and closed at 110.48.
Data showed that Japan’s final industrial production fell 1.9% on an annual basis in December, confirming the preliminary print. In the prior month, industrial production had registered a climb of 1.5%.
In the Asian session, at GMT0400, the pair is trading at 110.32, with the USD trading 0.14% lower against the JPY from yesterday’s close.
The pair is expected to find support at 110.01, and a fall through could take it to the next support level of 109.70. The pair is expected to find its first resistance at 110.88, and a rise through could take it to the next resistance level of 111.44.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
