USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.10% against the JPY and closed at 82.74.
In Japan, yesterday, GDP declined by 1.3% (Y-o-Y) in the fourth quarter of 2010. Additionally, domestic corporate goods prices in Japan rose by 0.2% (M-o-M) in February, following a rise of 0.5% in January.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.15%, at 82.86.
The first short term resistance is at 83.00, followed by 83.13. The pair is expected to find support at 82.67 and the subsequent support level at 82.47.
Trading trends in the pair today are expected to be determined by release of data on machine tool orders in Japan.
The currency pair is showing convergence with is 20 Hr moving average and is trading just above its 50 Hr moving average.
