USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.22% against the JPY and closed at 80.16.
In Japan, this morning, the business survey index of sentiment of large manufacturers, on quarterly basis, declined to -23.3 in the second quarter of 2011 from a reading of -3.2 in the previous quarter.
In the Asian session at 3:00GMT, the pair is trading higher from yesterday’s close at 23:00 GMT, by 0.02%, at 80.18.
The first short term resistance is at 80.49, followed by 80.81. The pair is expected to find support at 79.95 and the subsequent support level at 79.73.
BoJ interest rate decision is likely to receive increased market attention, along with other Japan data due to be released later today.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
