USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.05% against the JPY, on Friday, and closed at 76.80.
On Sunday, Japan’s new Finance Minister, Jun Azumi stated that he would raise the issue of the strong yen at the forthcoming meeting of Finance Ministers and Central Bank governors from the Group of Seven advanced economies. Further, he added that Japan should take “decisive action when it is necessary”.
In the Asian session at 3:00GMT, the dollar is trading lower against yen from Friday’s close at 23:00 GMT, by 0.07%, at 76.75.
The first short term resistance is at 76.98, followed by 77.20. The pair is expected to find support at 76.52 and the subsequent support level at 76.28.
The currency pair is showing convergence with its 20 Hr and is trading below its 50 Hr moving average.
