USDJPY Movement
On Friday, the USD weakened 0.08% against the JPY and closed at 101.46.
In the Asian session, at GMT0300, the pair is trading at 101.59, with the USD trading 0.13% higher from Friday’s close.
Early morning, Japan’s Cabinet Office reported that machinery orders in the nation jumped 19.1% (MoM) in March, the most since 1996 while housing loans rose at an annual pace of 2.9% in the first quarter, similar to the pace of rise in the preceding quarter.
The pair is expected to find support at 101.40, and a fall through could take it to the next support level of 101.22. The pair is expected to find its first resistance at 101.73, and a rise through could take it to the next resistance level of 101.88.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
