USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.40% against the JPY and closed at 81.32. Yen declined against greenback, yesterday, following comments from BoJ Deputy Governor Kiyohiko Nishimura.
Bank of Japan (BoJ) deputy Governor Kiyohiko Nishimura stated that BoJ is committed to implementing additional easing measures, if deemed necessary.
In the Asian session, at GMT0300, the pair is trading at 81.49, with the USD trading 0.21% higher from yesterday’s close, after reports showed that merchandise trade balance in Japan showed a deficit of ¥82.55 billion in March, compared to a surplus of ¥29.4 billion in February.
The pair is expected to find support at 81.25, and a fall through could take it to the next support level of 81.02. The pair is expected to find its first resistance at 81.65, and a rise through could take it to the next resistance level of 81.80.
Trading trends in the pair today are expected to be determined by merchandise trade balance data release in Japan.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
