USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.41% against the JPY and closed at 80.86.
The Bank of Japan, yesterday, indicated that the Japanese economy is showing some signs of growth, upgrading its assessment for the first time since February. Meanwhile, the central bank also added that the economy is facing downward pressure, mainly on the production front.
In the Asian session at 3:00GMT, the pair is trading higher from yesterday’s close at 23:00 GMT, by 0.10%, at 80.94.
The first short term resistance is at 81.21, followed by 81.49. The pair is expected to find support at 80.51 and the subsequent support level at 80.09.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
