USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 1.72% against the JPY and closed at 117.22.
In the Asian session, at GMT0400, the pair is trading at 117.31, with the USD trading 0.08% higher against the JPY from yesterday’s close.
Data released overnight showed that Japan’s flash Nikkei manufacturing PMI rose to a level of 51.9 in December, notching its highest level since January 2016 and suggesting that the nation’s economy is gathering momentum. The index registered a level of 51.3 in the prior month.
The pair is expected to find support at 115.42, and a fall through could take it to the next support level of 113.52. The pair is expected to find its first resistance at 118.53, and a rise through could take it to the next resistance level of 119.74.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
