USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.13% against the JPY and closed at 101.68, after the Fed Chief, Janet Yellen hinted that rates are likely to remain steady for a considerable period of time after the bank’s quantitative easing program ends.
In the Asian session, at GMT0300, the pair is trading at 101.74, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 101.52, and a fall through could take it to the next support level of 101.3. The pair is expected to find its first resistance at 101.87, and a rise through could take it to the next resistance level of 102.
Investors would pay attention to the Bank of Japan’s monthly economic survey, which is to be released later during the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
