USDJPY

Masato Kanda, Japan’s top foreign exchange diplomat who will instruct the BOJ to intervene if necessary, declined to confirm whether Japanese authorities had entered the foreign exchange (FX) market early Thursday after the yen strengthened sharply. Kanda added that they would release intervention data later this month. The USD/JPY pair was last seen trading at 155.67, up 0.68% on the day. The pair closed at 155.85 the previous trading day, up 0.86% on the day. The RSI indicator for the pair, which is above its 20-day moving average, is at 58.17, while its momentum is at 100.74. The 155.45 level could be followed for downside movements during the day. If this level is broken, supports at 154.61, 153.38 and 152.54 may become important. In case of possible increases, resistance levels at 156.69, 157.52 and 158.76 will be monitored. Support: 154.610 - 154.380 Resistance: 156.690 - 157.520