USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.99% against the JPY, on Friday, and closed at 76.66, after Federal Reserve Chief, Ben Bernanke stated that the Federal Open Market Committee would consider its options on monetary policy at its next meeting in September.
In the US, the consumer sentiment index rose to 55.7 in August from 54.9 in the previous month.
In the Asian session at 3:00GMT, the dollar is trading flat against yen from Friday’s close at 23:00 GMT, at 76.67.
The first short term resistance is at 77.19, followed by 77.72. The pair is expected to find support at 76.30 and the subsequent support level at 75.94.
Trading trends in the pair today are expected to be determined by housing data release in Japan.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
