COZforex: For the past trading session to 23:00 GMT, the USD strengthened 0.32% against the JPY and closed at 79.32. In the Asian session, the pair is trading at 79.33, with the USD trading marginally higher from yesterday’s close.

The Yen came under pressure during increased speculation that the Bank of Japan (BoJ) would ease monetary policy further at its upcoming policy meeting on October 30.

In technical analysis, the pair is predicted to find its first resistance at 79.53, and a rose through could take it to the next resistance line of 79.73. Meanwhile, the pair is predicted to find support at 79.06, and a fell through could take it to the next support line of 78.79.

Trading trends in the pair today are predicted to be determined by the release of the all industry activity index, leading economic index and coincident index in Japan.

The currency pair is trading above its 20 Hour and 50 Hour moving averages. (COZ forex UK)


COZ forex Chart:

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