USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.31% against the JPY and closed at 76.38.
St. Louis Federal Reserve President, James Bullard, indicated that the long-term growth in the US might be lower, following the drop in housing prices.
In Japan, this morning, the corporate service prices declined 0.4% (Y-o-Y) in August, following a 0.3% decline in the previous month.
In the Asian session at 3:00GMT, the dollar is trading lower against yen from yesterday’s close at 23:00 GMT, by 0.10%, at 76.30.
The first short term resistance is at 76.50, followed by 76.69. The pair is expected to find support at 76.17 and the subsequent support level at 76.03.
Trading trends in the pair today are expected to be determined by data release on small business confidence in Japan.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
