USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.16% against the JPY and closed at 102.38.
Yesterday, the Bank of Japan (BoJ) Governor, Haruhiko Kuroda reiterated that the central bank’s policy measures are targeted towards ending deflation in the domestic economy as soon as possible.
In the Asian session, at GMT0400, the pair is trading at 102.72, with the USD trading 0.33% higher from yesterday’s close.
The pair is expected to find support at 102.29, and a fall through could take it to the next support level of 101.87. The pair is expected to find its first resistance at 102.96, and a rise through could take it to the next resistance level of 103.21.
Later today, Japan’s Ministry of Finance would publish a report on the nation’s foreign reserve for February.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
