Japanese Yen Trading Higher In The Asian Session
GCI Financial | Nov 27, 2014 01:28AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.27% against the JPY and closed at 117.61, following disappointing weekly initial jobless claims coupled with an unexpected drop in pending home sales data in the US.
In the Asian session, at GMT0400, the pair is trading at 117.39, with the USD trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 117.17, and a fall through could take it to the next support level of 116.94. The pair is expected to find its first resistance at 117.77, and a rise through could take it to the next resistance level of 118.15.
Going forward, investors look forward to Japan’s national CPI and unemployment rate data, scheduled overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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