USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.14% against the JPY and closed at 113.61.
Data indicated that Japan’s retail trade climbed 3.5% on an annual basis in October, rising at its quickest pace in 10-months and more than market expectations for a rise of 2.7%. In the prior month, retail trade had advanced 2.1%. On the contrary, the nation’s large retailers’ sales slid 0.8% on a monthly basis in October, following an advance of 0.4% in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 113.37, with the USD trading 0.21% lower against the JPY from yesterday’s close.
The pair is expected to find support at 113.14, and a fall through could take it to the next support level of 112.91. The pair is expected to find its first resistance at 113.82, and a rise through could take it to the next resistance level of 114.27.
Looking ahead, investors would await Japan’s jobless rate and industrial production, both for October, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
