USDJPY Movement
For the 24 hours to 23:00 GMT, USD strengthened 0.14% against the JPY, on Friday, and closed at 81.02. Yen fell against greenback, amid speculation that the Bank of Japan (BoJ) would embark on additional monetary easing.
According to the minutes of the March 12-13 meeting of the BoJ released on Friday, policy board member, Ryuzo Miyao, proposed increasing the amount of the Asset Purchase Program by ¥5 trillion ($61.75 billion), a move that would enlarge the program to ¥70 trillion.
In the Asian session, at GMT0300, the pair is trading at 80.89, with the USD trading 0.17% lower from Friday’s close.
The pair is expected to find support at 80.77, and a fall through could take it to the next support level of 80.64. The pair is expected to find its first resistance at 81.07, and a rise through could take it to the next resistance level of 81.26.
The currency is trading just below its 20 Hr and 50 Hr moving averages.
