USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.21% against the JPY on Friday and closed at 81.76.
In Japan, today morning releases, industrial production rose by 2.4% (M-o-M) in January 2011, following a revised 3.3% growth posted in the previous month. Additionally, retail sales showed a rise of 4.1% in January, following a 4.2% fall in December.
In the Asian session at 4:00GMT, the pair is trading lower from the New York close, by 0.07%, at 81.70.
The first short term resistance is at 81.95, followed by 82.19. The pair is expected to find support at 81.52 and the subsequent support level at 81.33.
With a series of Japan economic releases today, including overall household spending and construction orders, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
