Japan’s Final Industrial Production Fell On A Monthly Basis In November
For the 24 hours to 23:00 GMT, the USD weakened 1.20% against the JPY and closed at 116.73.
In the Asian session, at GMT0400, the pair is trading at 117.27, with the USD trading 0.46% higher from Friday’s close.
Early this morning, data showed that the final industrial production in Japan unexpectedly declined 0.9% MoM in November. The preliminary figures had indicated a fall of 1.0%. Additionally, the nation’s tertiary industry index fell more-than-anticipated by 0.8% MoM in November, higher than market expectations for a fall of 0.7%, after recording a revised rise of 0.7% in the previous month.
The pair is expected to find support at 116.51, and a fall through could take it to the next support level of 115.75. The pair is expected to find its first resistance at 118.03, and a rise through could take it to the next resistance level of 118.78.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.