USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the JPY and closed at 113.3.
In the Asian session, at GMT0400, the pair is trading at 113.24, with the USD trading slightly lower against the JPY from yesterday’s close.
Early morning data indicated that Japan’s final leading economic index was revised down to a level of 104.8 in December, compared to a preliminary print of 105.2 and following a level of 102.8 in the previous month. On the other hand, the nation’s final coincident index dropped to a level of 114.8 in December, compared to a reading of 115.0 in the prior month. The preliminary figures had indicated an advance to 115.2.
The pair is expected to find support at 112.87, and a fall through could take it to the next support level of 112.49. The pair is expected to find its first resistance at 113.63, and a rise through could take it to the next resistance level of 114.01.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
