USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the JPY and closed at 113.11.
In economic news, Japan’s final machine tool orders rose 49.8% YoY in October, slightly less than the preliminary print indicating an advance of 49.9%. Machine tool orders had registered a rise of 45.00% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 112.52, with the USD trading 0.52% lower against the JPY from yesterday’s close.
The pair is expected to find support at 112.17, and a fall through could take it to the next support level of 111.82. The pair is expected to find its first resistance at 113.10, and a rise through could take it to the next resistance level of 113.68.
Moving ahead, traders will direct their attention to Japan’s flash Nikkei manufacturing PMI, all industry activity index and adjusted merchandise trade balance data, all due to be released next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
