USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.06% against the JPY and closed at 83.14.
In Japan yesterday, Ministry of Economy, Trade and Industry reported that All Industry Activity Index fell by 0.2% (M-o-M) in December 2010, following a 0.1% decrease the previous month.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.16%, at 83.27.
The first short term resistance is at 83.59, followed by 83.92. The pair is expected to find support at 82.89 and the subsequent support level at 82.52.
With a series of Japan economic releases today, including corporate service price & merchandise trade balance, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
