USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.97% against the JPY and closed at 115.21 on Friday.
In the Asian session, at GMT0400, the pair is trading at 115.23, with the USD trading a tad higher against the JPY from Friday’s close.
Data released overnight showed that Japan’s machinery orders climbed 4.1% MoM in October, advancing for the first time in three months and surpassing market expectations for a rise of 1.2%. In the prior month, machinery orders had registered a drop of 3.3%.
Earlier in the session, data indicated that the nation’s tertiary industry index rose 0.2% on a monthly basis in October, falling short of market expectations for an advance of 0.3% and after recording a fall of 0.1% in the prior month.
The pair is expected to find support at 114.45, and a fall through could take it to the next support level of 113.67. The pair is expected to find its first resistance at 115.81, and a rise through could take it to the next resistance level of 116.39.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
