USDJPY Movement
For the 24 hours to 23:00 GMT, USD traded flat against the JPY and closed at 76.80.
Data released in Japan showed that machine tool orders grew 20.1% (YoY) in September, from a 20.3% growth in August. Separately, the Japan Department Stores Association indicated that department store sales declined 2.4% (YoY) in September.
In the Asian session, at GMT0300, the pair is trading at 76.70, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 76.58, and a fall through could take it to the next support level of 76.47. The pair is expected to find its first resistance at 76.86, and a rise through could take it to the next resistance level of 77.03.
Trading trends in the pair today are expected to be determined by release of All Industry Activity Index in Japan.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
