USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.39% against the JPY and closed at 109.85.
On the data front, Japan’s flash machine tool orders rose 24.4% on an annual basis in May, after recording a gain of 34.7% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 109.98, with the USD trading 0.12% higher against the JPY from yesterday’s close.
Overnight data indicated that Japan’s BSI large manufacturing index fell to a level of -2.9 in 2Q 2017. The index had climbed 1.1 in the previous quarter.
The pair is expected to find support at 109.63, and a fall through could take it to the next support level of 109.29. The pair is expected to find its first resistance at 110.32, and a rise through could take it to the next resistance level of 110.67.
Going ahead, investors will await the release of Japan’s industrial production for April, scheduled tomorrow.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
