USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.45% against the JPY and closed at 122.94 .
In the Asian session, at GMT0300, the pair is trading at 122.87, with the USD trading 0.06% lower from yesterday’s close.
Earlier today, the BoJ maintained its current monetary policy settings, keeping interest rates at around zero. Additionally, it decided to keep monetary base intact at annual pace of ¥80 trillion and reiterated its upbeat assessment about the Japanese economy.
In other economic news, Japan’s all industry activity index rose 0.10% MoM in April, compared to a revised drop of 1.40% in the previous month. Market expectations were for it to advance 0.30%.
In the Asian session, at GMT0300, the pair is trading at 122.87, with the USD trading 0.06% lower from yesterday’s close.
Going ahead, investors would keenly await the release of leading economic and coincident indices, scheduled shortly.
The pair is expected to find support at 122.39, and a fall through could take it to the next support level of 121.9. The pair is expected to find its first resistance at 123.45, and a rise through could take it to the next resistance level of 124.02.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
