USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.57% against the JPY and closed at 93.16.
In the Asian session, at GMT0400, the pair is trading at 93.37, with the USD trading 0.23% higher from yesterday’s close.
Today morning, the Economy Minister of Japan, Akira Amari, stated that the ultra loose monetary policy stance adopted by the Bank of Japan might possibly help to raise inflation expectations.
The pair is expected to find support at 92.92, and a fall through could take it to the next support level of 92.46. The pair is expected to find its first resistance at 93.68, and a rise through could take it to the next resistance level of 94.00.
The currency pair is trading just above its 20 Hr moving average and showing convergence 50 Hr moving average.
