USDJPY Movement
On Friday, the USD weakened 0.61% against the JPY and closed at 120.08.
In the Asian session, at GMT0400, the pair is trading at 119.89, with the USD trading 0.16% lower from Friday’s close.
Early this morning, the BoJ Governor, Haruhiko Kuroda stated that he had mentioned to the Japanese PM, Shinzo Abe that the nation’s inflation was decelerating due to falling oil prices and further added that Japan’s economy remained on a gradual recovery path.
The pair is expected to find support at 119.41, and a fall through could take it to the next support level of 118.92. The pair is expected to find its first resistance at 120.79, and a rise through could take it to the next resistance level of 121.69.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
