USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.07% against the JPY and closed at 80.44.
In Japan, yesterday, the Bank of Japan (BoJ) policymaker, Yoshihisa Morimoto, raised concerns over a slowing US economy and sovereign debt problems in Europe and added that risks from global economy have become larger than before.
Meanwhile, in the economic news this morning, the corporate service price index in Japan declined by 0.9% in May from a revised 0.7% decline in April.
In the Asian session at 3:00GMT, the pair is trading higher from yesterday’s close at 23:00 GMT, by 0.04%, at 80.47.
The first short term resistance is at 80.73, followed by 81.00. The pair is expected to find support at 80.27 and the subsequent support level at 80.08.
The currency pair is trading between its 20 Hr moving average and its 50 Hr moving average.
