USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.15% against the JPY and closed at 80.38, after the release of the latest Fed decision on monetary policy. The Fed decided to keep the target range for the federal funds rate at 0 to 0.25%.
In the US, the housing price index increased by 0.8% (M-o-M) in April, in comparison with the 0.4% drop in March.
In Japan, yesterday, the supermarket sales, on an annual same-store basis, declined by 1.4% in May.
In the Asian session at 3:00GMT, the pair is trading higher from yesterday’s close at 23:00 GMT, by 0.19%, at 80.53.
The first short term resistance is at 80.77, followed by 81.02. The pair is expected to find support at 80.15 and the subsequent support level at 79.78.
Trading trends in the pair today are expected to be determined by release of data on corporate service price in Japan.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
