USD/JPY: Yen Continues To Decline On BoJ Expectations

USD/JPY: Yen Continues To Decline On BoJ Expectations

For the 24 hours to 23:00 GMT, the USD strengthened 0.84% against the JPY and closed at 83.22.

In the Asian session, at GMT0400, the pair is trading at 83.56, with the USD trading 0.41% higher from yesterday’s close.

The Yen is trading lower as markets expect that the Bank of Japan (BoJ) would expand its own easing programme next week, after the Federal Reserve took new stimulus steps to bolster the economy yesterday.

The pair is expected to find support at 82.89, and a fall through could take it to the next support level of 82.22. The pair is expected to find its first resistance at 83.93, and a rise through could take it to the next resistance level of 84.30.