USD/JPY: Japanese Yen extends its gains in the Asian session


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.19% against the JPY and closed at 113.84.

In economic news, Japan’s flash machine tool orders rose 31.1% in June. In the prior month, machine tool orders had advanced 24.5%.

In the Asian session, at GMT0300, the pair is trading at 113.47, with the USD trading 0.33% lower against the JPY from yesterday’s close.

Earlier today, data indicated that the nation’s tertiary industry index fell less-than-expected by 0.1% in May, compared to a revised advance of 1.4% in the prior month.

The pair is expected to find support at 113.10, and a fall through could take it to the next support level of 112.74. The pair is expected to find its first resistance at 114.16, and a rise through could take it to the next resistance level of 114.86.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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