USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.29% against the JPY and closed at 102.18, as the latest batch of lacklustre US retail and initial jobless claims data casted doubts on the continuation of the Fed’s tapering plans. The Yen also drew strength from the sharp decline in the Japanese’s equity markets which increased its safe haven appeal.
In the Asian session, at GMT0400, the pair is trading at 101.83, with the USD trading 0.34% lower from yesterday’s close.
The pair is expected to find support at 101.52, and a fall through could take it to the next support level of 101.20. The pair is expected to find its first resistance at 102.28, and a rise through could take it to the next resistance level of 102.73.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
