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.
