USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.37% against the JPY and closed at 75.94.
The Bank of Japan, yesterday, expanded its asset-purchase to a total of ¥55 trillion, while keeping its policy interest-rate target unchanged at 0 to 0.1%.
In the morning economic news, the unemployment rate in Japan stood at 4.1% in September. The Core Consumer Price Index (CPI), on annual basis, was unchanged in September compared to 0.2% rise in the previous month. Additionally, the industrial production declined 0.4% in September, compared to 0.6% rise in the previous month.
In the Asian session, at GMT0300, the pair is trading at 75.85, with the USD trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 75.58, and a fall through could take it to the next support level of 75.32. The pair is expected to find its first resistance at 76.19, and a rise through could take it to the next resistance level of 76.54.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
