USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.17% against the JPY and closed at 93.35.
In the Asian session, at GMT0300, the pair is trading at 93.53, with the USD trading 0.19% higher from yesterday’s close. The Yen is trading on a weaker footing, as investors await policy decisions by the Bank of Japan (BoJ), with market chatter rising that the new central bank Governor would convince all the BoJ members to approve additional, imminent monetary easing.
The pair is expected to find support at 92.83, and a fall through could take it to the next support level of 92.13. The pair is expected to find its first resistance at 93.96, and a rise through could take it to the next resistance level of 94.40.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
