USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.48% against the JPY and closed at 95.36.
In the Asian session, at GMT0400, the pair is trading at 95.60, with the USD trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 94.68, and a fall through could take it to the next support level of 93.77. The pair is expected to find its first resistance at 96.14, and a rise through could take it to the next resistance level of 96.68.
In one of the key events, the current Bank of Japan (BoJ) Governor, Masaaki Shirakawa, along with his two deputies shall step down as his five-year terms ends and would be succeeded by the new BoJ Head, Haruhiko Kuroda and his two deputies, Kikuo Iwata and Hiroshi Nakaso, who are due to take office from Wednesday.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
