USDJPY Movement
On Friday, the USD weakened 0.75% against the JPY and closed at 98.89.
In the Asian session, at GMT0300, the pair is trading at 97.67, with the USD trading 1.23% lower from Friday’s close.
Early this morning, the Bank of Japan Governor, Haruhiko Kuroda stated that the Japanese financial system is stable and capital markets have been improving on the back of decline in risk aversion and expectations for domestic policy.
The pair is expected to find support at 96.94, and a fall through could take it to the next support level of 96.20. The pair is expected to find its first resistance at 99.02, and a rise through could take it to the next resistance level of 100.38.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
