USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.95% against the JPY and closed at 82.23.
In Japan, today morning, the industrial production, on monthly basis, dropped by 15.3% in March compared to an expansion of 1.8% in the previous month. Meanwhile, the unemployment rate remained unchanged at 4.6% in March from the previous month. The small business confidence index dropped to a reading of 36.1 in April, compared to a reading of 49.5 in the prior month.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.61%, at 81.73.
The first short term resistance is at 82.52, followed by 83.31. The pair is expected to find support at 81.21 and the subsequent support level at 80.69.
Investors are eying BoJ interest rate decision along with other economic releases in Japan to be released later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
