Japan’s Manufacturing PMI Continued Its Expansion
GCI Financial | Dec 16, 2014 03:20AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.45% against the JPY and closed at 117.85.
Yesterday, in Japan, Tokyo condominium sales fell 33.3% on an annual basis in November, compared to a drop of 10.9% recorded in October.
In the Asian session, at GMT0400, the pair is trading at 117.39, with the USD trading 0.39% lower from yesterday’s close.
Earlier today, data indicated that Japan’s Markit manufacturing PMI edged up to a reading of 52.1, expanding for the seventh-straight month in December, and compared to previous month’s level of 52.0
The pair is expected to find support at 116.80, and a fall through could take it to the next support level of 116.20. The pair is expected to find its first resistance at 118.49, and a rise through could take it to the next resistance level of 119.58.
Looking ahead, market participants would concentrate on Japan’s adjusted merchandise trade balance data, scheduled in the late hours today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.