USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 1.16% against the JPY and closed at 83.55, after the Japanese government raised its assessment of the crisis at the Fukushima Daiichi nuclear plant. Nuclear regulators raised the rating from 5 to 7, the highest level for nuclear accidents, putting it on par with the 1986 Chernobyl disaster.
In Japan, today morning, machine tool orders, on annual basis rose by 49.5% in March from 73.9% increase recorded in February. Additionally, Japan Domestic Corporate Goods Price Index rose by 0.6% (M-o-M) in March from 0.2% rise in the previous month.
In the Asian session at 3:00GMT, the pair is trading higher from the New York close, by 0.42%, at 83.90.
The first short term resistance is at 84.42, followed by 84.93. The pair is expected to find support at 83.41 and the subsequent support level at 82.91.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
