USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 1.07% against the JPY and closed at 87.27.
Automobile sales in Japan fell 3.4% (YoY) in December, following a 3.3% decline in November.
In the Asian session, at GMT0400, the pair is trading at 87.47, with the USD trading 0.23% higher from yesterday’s close.
This morning, Japanese Finance Minister, Taro Aso, stated that Japan will buy bonds issued by the European Stability Mechanism to help weaken the yen.
The pair is expected to find support at 87.09, and a fall through could take it to the next support level of 86.71. The pair is expected to find its first resistance at 87.99, and a rise through could take it to the next resistance level of 88.51.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
