USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.18% against the JPY and closed at 119.12
In the Asian session, at GMT0400, the pair is trading at 118.67, with the USD trading 0.38% lower from yesterday’s close.
Early this morning, data showed that Japan’s Nikkei services PMI remained in expansionary territory with a reading of 51.5 in December, backed by a robust increase in new orders and slightly down from the previous month’s reading of 51.6.
The pair is expected to find support at 118.11, and a fall through could take it to the next support level of 117.55. The pair is expected to find its first resistance at 119.47, and a rise through could take it to the next resistance level of 120.27.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
