USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.27% against the JPY and closed at 81.52.
The Director-General of the BoJ’s monetary affairs department, Kazuo Momma, cautioned that setting too high a price goal in a country like Japan, which has seen very slow price growth, would heighten rather than lower uncertainty in the economy.
In the Asian session, at GMT0400, the pair is trading at 81.43, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 81.15, and a fall through could take it to the next support level of 80.87. The pair is expected to find its first resistance at 81.72, and a rise through could take it to the next resistance level of 82.01.
Trading trends in the pair today are expected to be determined by the release of labor cash earnings and official reserve assets in Japan.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
