USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.09% against the JPY and closed at 82.24.
In Japan, yesterday, the leading index improved for a third month to 101.9 in January, the highest level since August 2006, while the coincident index came in at 106.2 in January, from 103.7 in December. Additionally, in the morning news, the current account surplus fell to Â¥461.9 billion in January, while the merchandise trade balance posted a deficit of Â¥394.5 billion in January. Moreover, the value of M2 money stock and CDs increased 2.4% (YoY) to Â¥781.7 trillion in February. The Economy Watchers’ Survey index for current conditions in Japan rose to a seven-month high of 48.4 in February from 44.3 in January.
In the Asian session at 4:00GMT, the pair is trading higher from the New York close, by 0.01%, at 82.25.
The first short term resistance is at 82.43, followed by 82.60. The pair is expected to find support at 82.04 and the subsequent support level at 81.82.
Investors are eying BoJ’s Governor Shirakawa Speech along with economic releases in the Japan to be released later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
