Forex: USD/JPY finds support at 80.65, 1-week low

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Forex: USD/JPY finds support at 80.65, 1-week low

FITITOL--> FXstreet.com (San Francisco) - After falling from 81.22 in the Asian session and reach the 80.65 level in the European morning, the USD/JPY seems to have found support at this low level and has begun to trade sideways between 80.70 and 80.85.

Currently the pair is pricing at 8.83, 0.62% below today's opening price action.

"Even though it is widely expected that the BoJ will expand its asset purchase program to stimulate the economy, the pair trended lower throughout the session on the back of the never ending concerns surrounding the Eurozone sovereign debt crisis," comments the Talking-Forex.com team. "Technical studies indicate that supports are seen at 80.55 and then at 80.29. On the other hand, resistance levels are seen at 81.04 and then at 81.43."