USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.23% against the JPY and closed at 82.32.
In economic news, consumer confidence in Japan dropped to a reading of 39.5 in February, compared to a reading of 40.0 in January.
In the Asian session, at GMT0400, the pair is trading at 82.28, with the USD trading 0.05% lower from yesterday’s close.
Meanwhile this morning, Tertiary Industry Index in Japan fell 1.7% (MoM) in January, compared to a rise of 1.8% in December and against the market expectation of 0.2% rise.
The Bank of Japan in its latest monetary policy meeting kept the benchmark interest rate between zero and 0.1%. The bank left its asset purchase fund at ¥30 trillion and a credit-loan program at ¥35 trillion.
The pair is expected to find support at 82.13, and a fall through could take it to the next support level of 81.97. The pair is expected to find its first resistance at 82.44, and a rise through could take it to the next resistance level of 82.59.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
