USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 1.17% against the JPY and closed at 115.57.
In the Asian session, at GMT0400, the pair is trading at 114.47, with the USD trading 0.96% lower from yesterday’s close.
The pair is expected to find support at 113.27, and a fall through could take it to the next support level of 112.07. The pair is expected to find its first resistance at 116.60, and a rise through could take it to the next resistance level of 118.74.
Looking ahead, Japan’s preliminary machine tool orders data, scheduled to be released in a few hours, will garner a lot of market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
