USDJPY Movement
For the 24 hours to 23:00 GMT on Friday, USD strengthened 0.17% against the JPY and closed at 83.49.
In Japan, GDP fell by 0.3% (QoQ) in the quarter ended December 2010, after a revised rise of 0.8% in the July-September quarter. Meanwhile, GDP edged down 1.1% (YoY) in 4Q FY2010, following the downwardly revised 3.3% growth posted in 3Q FY2010.
In the Asian session at 4:00GMT, the pair is trading 0.31% lower from the New York close at 82.23.
The first short term resistance is at 83.56, followed by 83.88. The pair is expected to find support at 83.03 and the subsequent support level at 82.82.
The pair is showing convergence with its 50 Hr moving average and is trading below its 20 Hr moving average.
