USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 1.33% against the JPY on Friday and closed at 81.88.
In the US, New York Fed President William Dudley, indicated that the US economy has improved considerably in the past six months and rising oil prices are unlikely to derail its recovery.
The BOJ stated that it will inject ¥12 trillion ($146 billion) into the financial system to bolster market confidence after the earthquake. Today morning in Japan, industrial production declined by 1.3% in January from 3.3% in December. Additionally, capacity utilization rose by 3.6% in January from 3.0% in December.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.23%, at 82.07.
The first short term resistance is at 83.13, followed by 84.18. The pair is expected to find support at 81.19 and the subsequent support level at 80.30.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
