USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.76% against the JPY and closed at 112.70.
In the Asian session, at GMT0400, the pair is trading at 112.58, with the USD trading 0.11% lower against the JPY from yesterday’s close.
The Japanese Yen gained ground against the USD, after data revealed that Japan’s preliminary Nikkei manufacturing PMI registered a rise to a level of 54.2 in December, expanding at its fastest pace in nearly four years and compared to a reading of 53.6 in the previous month. Additionally, the nation’s final industrial production rose 0.5% on a monthly basis in October, confirming the preliminary print. In the prior month, industrial production had dropped 1.0%.
The pair is expected to find support at 112.21, and a fall through could take it to the next support level of 111.84. The pair is expected to find its first resistance at 113.2, and a rise through could take it to the next resistance level of 113.82.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
