USD/JPY: Yen continues to surge

USD JPY

USDJPY Movement

For the 24 hours to 23:00 GMT, USD weakened 0.23% against the JPY and closed at 81.02, amid the concerns that the killing of Laden may lead to revenge attacks.

In the US, new orders for the manufactured goods, on monthly basis, increased by 3.0% to $462.9 billion in March, compared to a revised 0.7% rise recorded in February.

In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.10%, at 80.94.

The first short term resistance is at 81.16, followed by 81.37. The pair is expected to find support at 80.69 and the subsequent support level at 80.43.

The currency pair is trading just below its 20 Hr moving average and its 50 Hr moving average.

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