USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.17% against the JPY and closed at 113.79.
In economic news, Japan’s preliminary machine tool orders retreated 1.1% on an annual basis in October, deteriorating for the first time since November 2016. In the previous month, machine tool orders had risen 2.9%.
In the Asian session, at GMT0400, the pair is trading at 114.02, with the USD trading 0.20% higher against the JPY from yesterday’s close.
The pair is expected to find support at 113.66, and a fall through could take it to the next support level of 113.31. The pair is expected to find its first resistance at 114.29, and a rise through could take it to the next resistance level of 114.57.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
