USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.50% against the JPY and closed at 119.81.
In the Asian session, at GMT0400, the pair is trading at 119.93, with the USD trading 0.1% higher from yesterday’s close.
Earlier today, the BoJ Board Member, Takehiro Sato, stated that inflation growth in Japan could stall until around first half of 2015.
The pair is expected to find support at 119.39, and a fall through could take it to the next support level of 118.84. The pair is expected to find its first resistance at 120.21, and a rise through could take it to the next resistance level of 120.49.
Amid lack of economic releases from Japan today, investors await Japan’s leading as well as coincident indices data, scheduled in the early hours tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
