USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.13% against the JPY and closed at 79.68.
The Bank of Japan (BoJ), in its latest monetary policy meeting, expanded its asset purchase fund by ¥11.0 trillion to ¥66.0 trillion. Meanwhile, the central bank kept its benchmark interest rate unchanged between 0.0% and 0.1%, in line with market expectations.
Meanwhile, in the US, the S&P/Case-Shiller 20-City composite home price index rose 2.0% (YoY) in August, against the expectations for a 1.9% rise.
In the Asian session, at GMT0400, the pair is trading at 79.65, with the USD trading marginally lower from yesterday’s close.
This morning in Japan, the Nomura/ JMMA manufacturing purchasing manager index declined to a reading of 46.9 in October, compared with a reading of 48.0 in the previous month.
The pair is expected to find support at 79.24, and a fall through could take it to the next support level of 78.83. The pair is expected to find its first resistance at 80.09, and a rise through could take it to the next resistance level of 80.54.
The currency pair is trading in between its 20 Hr and 50 Hr moving averages.
