USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 1.00% against the JPY, on Friday, and closed at 76.11.
Japanese finance minister, Jun Azumi, stated that he would take decisive action against excessive and speculative yen moves, threatening to conduct currency intervention after the yen rose to a record high against the dollar.
In Japan, this morning, the merchandise trade balance showed a surplus of ¥300.4 billion in September, compared to a deficit of ¥777.2 billion in August.
In the Asian session, at GMT0300, the pair is trading at 76.26, with the USD trading 0.20% higher from Friday’s close.
The pair is expected to find support at 75.79, and a fall through could take it to the next support level of 75.31. The pair is expected to find its first resistance at 76.77, and a rise through could take it to the next resistance level of 77.27.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
