USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the JPY and closed at 109.26.
In the Asian session, at GMT0300, the pair is trading at 109.36, with the USD trading 0.09% higher against the JPY from yesterday’s close.
Overnight data indicated that Japan’s final Nikkei manufacturing PMI advanced more than initially estimated to a level of 53.8 in April, compared to a level of 53.1 in the prior month, while the preliminary figures had indicated an advance to a level of 53.3.
The pair is expected to find support at 109.14, and a fall through could take it to the next support level of 108.91. The pair is expected to find its first resistance at 109.52, and a rise through could take it to the next resistance level of 109.67.
Going ahead, Japan’s Nikkei services PMI as well as consumer confidence index, both for April, slated to release overnight, will garner a lot of market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
