USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.09% against the JPY and closed at 109.55.
Data indicated that Japan’s flash machine tool orders dropped 33.4% on a yearly basis in April, following a decline of 28.5% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 109.48, with the USD trading 0.06% lower against the JPY from yesterday’s close.
The pair is expected to find support at 109.19, and a fall through could take it to the next support level of 108.91. The pair is expected to find its first resistance at 109.73, and a rise through could take it to the next resistance level of 109.99.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
