USD/JPY: Japan’s machine tool orders rose in September


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD declined 0.67% against the JPY and closed at 112.26.

Data indicated that Japan’s flash machine tool orders advanced 2.8% on an annual basis in September, following a rise of 5.1% in the preceding month.

In the Asian session, at GMT0300, the pair is trading at 112.10, with the USD trading 0.14% lower against the JPY from yesterday’s close.

The pair is expected to find support at 111.62, and a fall through could take it to the next support level of 111.13. The pair is expected to find its first resistance at 112.94, and a rise through could take it to the next resistance level of 113.77.

Amid lack of key economic releases in Japan today, traders would focus on global macroeconomic events for further direction.

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

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