USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.65% against the JPY and closed at 119.22.
In the Asian session, at GMT0400, the pair is trading at 119.09, with the USD trading 0.11% lower from yesterday’s close.
Earlier today, the BoJ in its monetary policy statement announced that it will maintain its massive asset buying stimulus programme and also mentioned that the Japanese economy was recovering moderately and was on track to hit its 2% inflation goal in next fiscal.
The pair is expected to find support at 118.50, and a fall through could take it to the next support level of 117.91. The pair is expected to find its first resistance at 119.55, and a rise through could take it to the next resistance level of 120.02.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
