USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.38% against the JPY and closed at 81.84.
Yesterday, the Japanese Ministry of Health, Labour and Welfare reported that average wages rose 0.2% (YoY) in October, following a downwardly revised 0.5% fall recorded in September.
In the Asian session, at GMT0400, the pair is trading at 82.21, with the USD trading 0.45% higher from yesterday’s close.
In Japan this morning, the Deputy Governor of the Bank of Japan (BoJ), Kiyohiko Nishimura, stated that the central bank stands ready to take necessary and bold monetary policy action, if downside risks to the nation’s economy increase.
The pair is expected to find support at 81.84, and a fall through could take it to the next support level of 81.47. The pair is expected to find its first resistance at 82.46, and a rise through could take it to the next resistance level of 82.71.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
