USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.76% against the JPY and closed at 110.00.
On the economic front, Japan’s final machine tool orders climbed 22.0% on a yearly basis in April, confirming the preliminary print. Machine tool orders had advanced 28.1% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 109.61, with the USD trading 0.35% lower against the JPY from yesterday’s close.
The Japanese Yen advanced against the USD, as investors lured to the safe-haven currency after the US President, Donald Trump, announced that he is considering imposing as much as 25.0% tariffs on import cars.
The pair is expected to find support at 109.19, and a fall through could take it to the next support level of 108.78. The pair is expected to find its first resistance at 110.28, and a rise through could take it to the next resistance level of 110.96.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
