USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.45% against the JPY and closed at 117.85.
Yesterday, in Japan, Tokyo condominium sales fell 33.3% on an annual basis in November, compared to a drop of 10.9% recorded in October.
In the Asian session, at GMT0400, the pair is trading at 117.39, with the USD trading 0.39% lower from yesterday’s close.
Earlier today, data indicated that Japan’s Markit manufacturing PMI edged up to a reading of 52.1, expanding for the seventh-straight month in December, and compared to previous month’s level of 52.0
The pair is expected to find support at 116.80, and a fall through could take it to the next support level of 116.20. The pair is expected to find its first resistance at 118.49, and a rise through could take it to the next resistance level of 119.58.
Looking ahead, market participants would concentrate on Japan’s adjusted merchandise trade balance data, scheduled in the late hours today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
