USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened marginally against the JPY and closed at 77.63.
Additionally, this morning, the Gross Domestic Product (GDP) rose 1.3% in third quarter of 2011, compared to the initial estimates of a 1.5% growth. The M2 money supply increased 3.0% (YoY) in November.
In the Asian session, at GMT0400, the pair is trading at 77.66, with the USD trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 77.26, and a fall through could take it to the next support level of 76.86. The pair is expected to find its first resistance at 77.93, and a rise through could take it to the next resistance level of 78.20.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
