USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.39% against the JPY and closed at 80.32.
The monetary base in Japan climbed 23.9% in April, following a 16.9% rise recorded in March. Separately, in an annual Asian Development Bank meeting, Yoshihiko Noda, the Japanese Finance Minister stated that he would be closely monitoring the recent strength in the yen, while he declined to comment whether the yen’s recent rise would lead the policy makers to consider an intervention.
In the Asian session at 3:00GMT, the pair is trading higher from the New York close, by 0.19%, at 80.47.
The first short term resistance is at 80.90, followed by 81.34. The pair is expected to find support at 79.78 and the subsequent support level at 79.10.
The pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
