USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.09% against the JPY and closed at 76.30.
Yen advanced after the Small Business Confidence Index in Japan climbed to 45.7 in January, from 45.6 in December. Meanwhile, housing starts in Japan slipped 7.3% (YoY) in December, following a 0.3% drop in the previous month.
Separately, Japanese Finance Minister, Jun Azumi reiterated a warning that he would take “decisive steps” if speculators push the yen up too sharply.
In the Asian session, at GMT0400, the pair is trading at 76.19, with the USD trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 76.09, and a fall through could take it to the next support level of 75.98. The pair is expected to find its first resistance at 76.36, and a rise through could take it to the next resistance level of 76.52.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
