USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.86% against the JPY, on Friday, and closed at 80.36.
The Bank of Japan, on Friday, increased the size of its asset purchase program by about ¥5.0 trillion to ¥70 trillion. It also left interest rates unchanged in the range of 0% to 0.1%.
In economic news, the housing starts in Japan rose 5.0% (YoY) in March, less than market expectations of 8.1% rise and compared to 7.5% rise in previous month. Additionally, the construction orders fell 0.3% (YoY) in March, compared to 1.8% decline in previous month.
In the Asian session, at GMT0300, the pair is trading at 80.13, with the USD trading 0.28% lower from Friday’s close.
The pair is expected to find support at 79.68, and a fall through could take it to the next support level of 79.22. The pair is expected to find its first resistance at 81.02, and a rise through could take it to the next resistance level of 81.90.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
