Japanese Monetary Base Rose More-Than-Forecasted In December

Japanese Monetary Base Rose More-Than-Forecasted In December

For the 24 hours to 23:00 GMT on Friday, the USD strengthened 0.50% against the JPY and closed at 88.16.

In the Asian session, at GMT0400, the pair is trading at 88.03, with the USD trading 0.15% lower from yesterday’s close. Data released today morning indicated that monetary base in Japan surged by 11.8% (YoY) in December, following the 5.0% increase in November. Analysts had expected Japan’s monetary base to rise 5.3% last month.

The pair is expected to find support at 87.61, and a fall through could take it to the next support level of 87.20. The pair is expected to find its first resistance at 88.42, and a rise through could take it to the next resistance level of 88.82.