USD/JPY: Japan’s services PMI swung back to Expansion

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD strengthened 0.78% against the JPY and closed at 119.22.

In the Asian session, at GMT0400, the pair is trading at 119.34, with the USD trading 0.1% higher from yesterday’s close.

Early morning data showed that Japan’s services PMI expanded to a level of 51.2 in November, compared to a reading of 48.7 registered in the preceding month.

The pair is expected to find support at 118.63, and a fall through could take it to the next support level of 117.93. The pair is expected to find its first resistance at 119.75, and a rise through could take it to the next resistance level of 120.16.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.