USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.19% against the JPY and closed at 80.38.
In the Asian session, at GMT0300, the pair is trading at 80.30, with the USD trading 0.10% lower from yesterday’s close. The Yen is trading higher, after data released this morning in Japan indicated that on an annualized basis, gross domestic product (GDP) rose 4.1% in first quarter of 2012, against the market expectation of a 3.5% rise.
The pair is expected to find support at 80.15, and a fall through could take it to the next support level of 80.00. The pair is expected to find its first resistance at 80.50, and a rise through could take it to the next resistance level of 80.71.
Trading trends in the pair today are expected to be determined by the release of industrial production and capacity utilization in Japan.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
