USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.43% against the JPY and closed at 80.17.
In the Asian session, at GMT0400, the pair is trading at 80.03, with the USD trading 0.16% lower from yesterday’s close.
The President of the Federal Reserve Bank of San Francisco, John Williams stated that the central bank’s unprecedented quantitative easing have lowered borrowing costs and boosted economic growth without creating unwanted inflation.
The pair is expected to find support at 79.87, and a fall through could take it to the next support level of 79.70. The pair is expected to find its first resistance at 80.36, and a rise through could take it to the next resistance level of 80.68.
Trading trends in the pair today are expected to be determined by the release of the leading economic index and the coincident index in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
