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USDJPY is variable on BoJ governor headlines

ForexZig.com February 21, 2013
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USDJPY

The greenback is traded lower against the Japanese yen in USDJPY during today’s Asian session, but it appears to be variable regarding the next Bank of Japan governor.

During Asian trading today, currency pair USDJPY decreased 0.11% to 93.48 as it was earlier traded at 93.86. The session low appears at the level 93.47. The pair is supposed to find support at 92.23, bottom from Friday, and resistance at 94.22, top level from Monday.

Earlier today, a Japanese newspaper announced that former BoJ Deputy Governor Kazumasa Iwata and Asian Development Bank leader Haruhiko Kuroda are regarded as leading candidates to replace Masaaki Shirakawa when he leaves on March 19.

This report also confirms speculation that former BoJ deputy governor Toshiro Muto is no more a top candidate to lead the central bank. Muto is also considered to be a top candidate, but press reports broke this concept earlier this week. Muto has a sharp position on monetary easing, though he claims to have changed that attitude over the years.

USDJPY traders are expecting during the next several days a visit to America by Prime Minister Shinzo Abe to meet with President Obama. Obama is about to discuss the Trans Pacific Partnership trade pact with Abe.

Meanwhile, EURJPY moved down with 0.28% to 123.97 while AUDJPY slid 0.35% to 95.68.

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