USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.16% against the JPY and closed at 109.15.
In the Asian session, at GMT0400, the pair is trading at 109.36, with the USD trading 0.19% higher against the JPY from yesterday’s close.
Overnight data revealed that Japan’s national consumer price index (CPI) rose 0.3% on a yearly basis in December, at par with market expectations. The CPI had recorded a rise of 0.8% in the previous month. Additionally, the nation’s final industrial production climbed 1.5% on a yearly basis in November, following an advance of 4.2% in the previous month. The preliminary figures had recorded an advance of 1.4%.
The pair is expected to find support at 108.90, and a fall through could take it to the next support level of 108.44. The pair is expected to find its first resistance at 109.61, and a rise through could take it to the next resistance level of 109.86.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
