USDJPY Movement
For the 24 hours to 23:00 GMT, USD weakened 0.61% against the JPY and closed at 79.50.
The Yen rose after Bank of Japan (BoJ) holdback on further stimulus. Yesterday, Japan’s central bank left interest rates unchanged, as expected, and maintained the size of its asset-purchase program, despite political pressure to curb deflation and boost growth.
In the Asian session, at GMT0300, the pair is trading at 79.51, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 79.19, and a fall through could take it to the next support level of 78.86. The pair is expected to find its first resistance at 79.86, and a rise through could take it to the next resistance level of 80.22.
Trading trends in the pair today are expected to be determined by the release of consumer price index data in Japan and Bank of Japan (BoJ) monthly economic report.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
