USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.4% against the JPY and closed at 118.93.
In the Asian session, at GMT0300, the pair is trading at 119.13, with the USD trading 0.17% higher from yesterday’s close.
Midnight data revealed that Japan’s corporate service price index climbed 0.60% YoY in July, compared to market expectations for an annual advance of 0.40%, similar to the previous month.
The pair is expected to find support at 118.25, and a fall through could take it to the next support level of 117.37. The pair is expected to find its first resistance at 120.21, and a rise through could take it to the next resistance level of 121.29.
Amid a lack of any major economic news from Japan today, trading trends in the pair are expected to be determined by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
