USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.13% against the JPY and closed at 77.10, after strong Japanese GDP data. Japanese Gross Domestic Product (GDP) rose 1.5% in the third quarter of 2011, following a contraction in the previous quarter.
In the Asian session, at GMT0400, the pair is trading at 77.15, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 76.81, and a fall through could take it to the next support level of 76.48. The pair is expected to find its first resistance at 77.49, and a rise through could take it to the next resistance level of 77.84.
Bank of Japan (BoJ) monetary policy statement is likely to receive increased market attention today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
