USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 1.04% against the JPY and closed at 96.58, after the US Federal Reserve announced plans to slow its purchases of bonds to stimulate the US economy in the coming year.
In the Asian session, at GMT0300, the pair is trading at 97.15, with the USD trading 0.59% higher from yesterday’s close.
The pair is expected to find support at 95.58, and a fall through could take it to the next support level of 94.01. The pair is expected to find its first resistance at 97.97, and a rise through could take it to the next resistance level of 98.79.
Japan is scheduled to release the leading economic index and the coincident index later today.
The currency pair is trading way above its 20 Hr and 50 Hr moving averages.
