USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.33% against the JPY and closed at 77.87.
Yesterday the Bank of Japan (BoJ) Deputy Governor, Hirohide Yamaguchi, stated that the central bank is ready to take bold and flexible monetary policy action when necessary to support the economy.
In the Asian session, at GMT0300, the pair is trading at 77.85, with the USD trading 0.03% lower from Yesterday’s close.
In Japan, this morning, corporate service price index fell 0.3% (YoY) in August in line with the market expectation.
The pair is expected to find support at 77.72, and a fall through could take it to the next support level of 77.59. The pair is expected to find its first resistance at 78.07, and a rise through could take it to the next resistance level of 78.28.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
