USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.53% against the JPY and closed at 113.2600.
In the Asian session, at GMT0400, the pair is trading at 112.7, with the USD trading 0.49% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s monetary base advanced 22.6% on an annual basis in January, compared to a 23.1% rise in the previous month.
Early this morning, data indicated that Japan’s consumer confidence index rose to a level of 43.2 in January, from a reading of 43.1 in the previous month.
The pair is expected to find support at 112.22, and a fall through could take it to the next support level of 111.75. The pair is expected to find its first resistance at 113.56, and a rise through could take it to the next resistance level of 114.43.
Going ahead, investors look forward to the Bank of Japan’s (BoJ) December monetary policy meeting minutes, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving average.
