Japanese Yen Extends Its Gains, Ahead Of The BOJ Governor Speech
GCI Financial | Sep 16, 2014 02:07AM ET
For the 24 hours to 23:00 GMT, the USD weakened 0.14% against the JPY and closed at 107.15.
In the Asian session, at GMT0300, the pair is trading at 107.09, with the USD trading 0.06% lower from yesterday’s close.
Early morning data indicated that, Japanese Tokyo condominium sales slid 49.1% on an annual basis in August, compared to a drop of 20.4% registered in the previous month.
The pair is expected to find support at 106.94, and a fall through could take it to the next support level of 106.78. The pair is expected to find its first resistance at 107.31, and a rise through could take it to the next resistance level of 107.53.
Going forward, investors would look forward to the BoJ Governor, Haruhiko Kuroda’s speech scheduled shortly.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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