USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened marginally against the JPY and closed at 78.56, after the Federal Reserve Bank of Chicago President, Charles Evans, broadened his call for more stimulus in the US.
Additionally, in the US, initial claims for state unemployment benefits rose 4,000 to a seasonally adjusted 372,000, for the week ended August 18.
In the Asian session, at GMT0300, the pair is trading at 78.62, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 78.42, and a fall through could take it to the next support level of 78.22. The pair is expected to find its first resistance at 78.76, and a rise through could take it to the next resistance level of 78.90.
In Japan, investors await the Bank of Japan (BoJ) Governor, Masaaki Shirakawa press conference, later in the day.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
