USD/JPY: US Dollar Reverses Previous Session Losses this Morning

USD/JPY: US Dollar Reverses Previous Session Losses this Morning

For the 24 hours to 23:00 GMT on Friday, the USD weakened 0.24% against the JPY and closed at 84.23, after the University of Michigan reported that its index of consumer sentiment unexpectedly deteriorated in December to 72.9 from a reading of 74.5 the previous month. Market had expected the index to improve to 74.7.

In the Asian session, at GMT0400, the pair is trading at 84.36, with the USD trading 0.16% higher from Friday's close.

The pair is expected to find support at 84.00, and a fall through could take it to the next support level of 83.64. The pair is expected to find its first resistance at 84.61, and a rise through could take it to the next resistance level of 84.86.