USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.92% against the JPY and closed at 81.54, after the Bank of Japan Governor Masaaki Shirakawa stated that the economy is in a “very severe” state, fueling speculation of further easing of monetary policy.
In Japan, today morning, the tertiary industry index, on monthly basis, declined by 6.0% in March from 0.8% rise in February.
In the Asian session at 3:00GMT, the pair is trading lower from the New York close, by 0.33%, at 81.27.
The first short term resistance is at 81.73, followed by 82.19. The pair is expected to find support at 80.86 and the subsequent support level at 80.45.
Trading trends in the pair today are expected to be determined by release of gross domestic product in Japan.
The currency pair is between its 20 Hr moving average and its 50 Hr moving average.
