USD/JPY: Japan’s machinery orders rose less-than-estimated in October


USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.18% against the JPY and closed at 113.41.

In economic news, Japan’s machinery orders rose 7.6% on a monthly basis in October, falling short of market expectations for an advance of 9.7%. In the preceding month, machinery orders had registered a fall of 18.3%.

In the Asian session, at GMT0400, the pair is trading at 113.46, with the USD trading a tad higher against the JPY from yesterday’s close.

The pair is expected to find support at 113.14, and a fall through could take it to the next support level of 112.82. The pair is expected to find its first resistance at 113.65, and a rise through could take it to the next resistance level of 113.84.

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

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