USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.11% against the JPY and closed at 82.00.
The Bank of Japan Governor Masaaki Shirakawa, stated that the Japanese economy was already was showing signs of recovery from the March 11 disaster, while repeating that the BOJ’s short-term focus is on downside risks.
In Japan, this morning, the corporate service price index, on yearly basis, declined by 0.8% in April following a 1.2% fall in March.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.17%, at 81.86.
The first short term resistance is at 82.11, followed by 82.35. The pair is expected to find support at 81.69 and the subsequent support level at 81.51.
The pair is expected to trade on the cues from the release of data in retail sales and national consumer price index.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
