USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 1.06% against the JPY and closed at 99.33.
The Bank of Japan board member, Takehiro Sato, stated that the central bank is ready to consider additional stimulus if required.
In the Asian session, at GMT0300, the pair is trading at 99.56, with the USD trading 0.23% higher from yesterday’s close.
The pair is expected to find support at 99.07, and a fall through could take it to the next support level of 98.59. The pair is expected to find its first resistance at 100.11, and a rise through could take it to the next resistance level of 100.67.
Key economic releases from Japan today consist of trade balance data as well as exports and imports data.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
