USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 114.83.
On the data front, Japan’s flash machine tool orders dropped 5.6% YoY in November, following a drop of 8.9% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 114.98, with the USD trading 0.13% higher against the JPY from yesterday’s close.
The pair is expected to find support at 114.42, and a fall through could take it to the next support level of 113.86. The pair is expected to find its first resistance at 115.83, and a rise through could take it to the next resistance level of 116.68.
Looking ahead, market participants will closely monitor Japan’s Tankan large manufacturers index for fourth quarter, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
