USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.28% against the JPY and closed at 85.35.
In Japan, the leading index advanced to 104.2 in February, while the coincident index climbed to 106.3 in February.
Federal Reserve Bank of Atlanta President, Dennis Lockhart stated that he doesn’t expect the central bank to raise interest rates by the end of the year with inflation low and the economic recovery fragile.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.06%, at 85.30.
The first short term resistance is at 85.61, followed by 85.91. The pair is expected to find support at 84.90 and the subsequent support level at 84.49.
Trading trends in the pair today are expected to be determined by current account and trade balance data in Japan, later today.
The currency pair is showing convergence with 20 Hr moving average and is trading well above its 50 Hr moving average.
