USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.31% against the JPY and closed at 108.49 on Friday.
In the Asian session, at GMT0400, the pair is trading at 108.10, with the USD trading 0.36% lower against the JPY from Friday’s close.
Overnight data revealed that Japan’s Nikkei services PMI eased to a level of 51.0 in December, expanded at its weakest pace in 3-months and compared to a reading of 52.3 in the previous month.
The pair is expected to find support at 107.74, and a fall through could take it to the next support level of 107.38. The pair is expected to find its first resistance at 108.54, and a rise through could take it to the next resistance level of 108.98.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
