USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.55% against the JPY and closed at 77.16.
This morning, Japan’s Finance Minister, Jun Azumi called for stronger efforts by Europe to stem the region’s debt crisis and the falling euro, stating that recent drops in the common currency versus the yen could threaten the Japan’s export-led recovery.
In the Asian session, at GMT0400, the pair is trading at 77.18, with the USD trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 76.85, and a fall through could take it to the next support level of 76.51. The pair is expected to find its first resistance at 77.38, and a rise through could take it to the next resistance level of 77.58.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
