USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 1.79% against the JPY on Friday and closed at 80.58, as G7 countries agreed to take steps to curb the Yen’s post earthquake rise.
In Japan, on Friday, leading index stood at 101.5 in January from 100.2 in December. Meanwhile, the coincident index stood at 105.9 in January, from 103.5 in December.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.45%, at 80.94.
The first short term resistance is at 81.80, followed by 82.66. The pair is expected to find support at 80.28 and the subsequent support level at 79.62.
The currency pair is showing convergence with its 20 Hr and is trading just above 50 Hr moving average.
