Japanese Yen (JPY)

The Yen fluctuated against the Dollar during the European session in the end closed almost unchanged as concern that unrest in the Middle East will spread, boosted demand for safer assets like the Yen and the Dollar. The earthquake in New Zealand created an initial boost for the Yen, but Moody's downgrading of Japan's bond rate counteracted that surge. The USD/JPY main support is still at 83.00, and if the pair breaks below this level, the Dollar will probably continue to decline towards the 82.00 level. If the rate crosses the 83.55 level, it will probably rise to 84.00 and more. Overall, USD/JPY traded with a low of 83.05 and with a high of 83.54. No economic data is expected today.

USD/JPY-Last: 83.27

Resistance

83.55

83.75

84.00

Support

83.00

82.80

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