USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.97% against the JPY and closed at 98.01, as two of the top Fed officials stated that they would not support the central bank in scaling back its stimulus package at its October policy meeting.
In the Asian session, at GMT0300, the pair is trading at 98.05, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 97.63, and a fall through could take it to the next support level of 97.20. The pair is expected to find its first resistance at 98.58, and a rise through could take it to the next resistance level of 99.11.
Later today, the Bank of Japan (BoJ) Goevrnor, Haruhiko Kuroda, is expected to hold a press conference about central bank’s monetary policies in Tokyo.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
