USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.52% against the JPY and closed at 117.27.
In the Asian session, at GMT0400, the pair is trading at 117.70, with the USD trading 0.37% higher from yesterday’s close.
Overnight data showed that, Japan’s machine orders rebounded 1.3% on a MoM basis in November, lower than market expected rise of 4.4% and compared to a drop of 6.4% registered in October.
The pair is expected to find support at 116.56, and a fall through could take it to the next support level of 115.43. The pair is expected to find its first resistance at 118.34, and a rise through could take it to the next resistance level of 118.99.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
