USDJPY Movement
For the 24 hours to 23:00 GMT on Friday, the USD weakened 0.82% against the JPY and closed at 92.85.
On Friday, Japanese Finance Minister Taro Aso stated that the yen’s sharp drop since November has been too fast.
In economic news, according to Eco Watchers’ survey, the current economic situation in Japan rose to 49.5 in January, from 45.8 in December. Additionally, the outlook index climbed to a reading of 56.5 in January, from a reading of 51.0 recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 92.56, with the USD trading 0.31% lower from Friday’s close.
The pair is expected to find support at 91.96, and a fall through could take it to the next support level of 91.37. The pair is expected to find its first resistance at 93.36, and a rise through could take it to the next resistance level of 94.17.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
