USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.52% against the JPY and closed at 112.86.
In economic news, Japan’s final machine tool orders registered a rise of 36.2% YoY in August, while the preliminary figures had recorded a rise of 36.3%. Machine tool orders had recorded a rise of 28.0% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 112.86, with the USD trading flat against the JPY from yesterday’s close.
The pair is expected to find support at 112.35, and a fall through could take it to the next support level of 111.83. The pair is expected to find its first resistance at 113.32, and a rise through could take it to the next resistance level of 113.77.
Moving forward, market participants will focus on the Bank of Japan’s summary of opinions report along with Japan’s inflation and jobless rate data, both for August, all due to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
