USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.50% against the JPY and closed at 81.70.
The BoJ, offered to inject ¥5 trillion into the money markets while limiting the bond purchase to ease the market jitters amid the aftermath from the earthquake.
In Japan, yesterday, consumer confidence index declined to 40.7 in February, from 41.1 in January. Additionally, industrial production rose to 1.3% (M-o-M) in January from 3.3% rise in December, while capacity utilization rose to 3.6% (M-o-M) in January from 3% rise in December.
In the Asian session at 4:00GMT, the pair is trading lower from the New York close, by 0.22%, at 81.52.
The first short term resistance is at 81.99, followed by 82.45. The pair is expected to find support at 81.30 and the subsequent support level at 81.07.
Trading trends in the pair today are expected to be determined by release of data on BSI large manufacturing and machine tool orders in Japan.
The currency pair is showing convergence with its 20 Hr moving average and its 50 Hr moving average.
