USD/JPY: Yen Down On BoJ Easing Speculation

USD/JPY: Yen Down On BoJ Easing Speculation

For the 24 hours to 23:00 GMT on Friday, the USD weakened 0.73% against the JPY and closed at 79.64.

In the Asian session, at GMT0400, the pair is trading at 79.69, with the USD trading 0.06% higher from Friday’s close.

The Yen is trading lower, amid growing expectations of more policy stimulus from the Bank of Japan (BoJ) when it meets on Tuesday.

Moreover, data released today morning in Japan indicated that retail sales rose 0.4% (YoY) in September, against expectations for an increase of 1.0% and following the downwardly revised increase of 1.7% in August.

The pair is expected to find support at 79.42, and a fall through could take it to the next support level of 79.15. The pair is expected to find its first resistance at 80.03, and a rise through could take it to the next resistance level of 80.38.