USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the JPY and closed at 103.98.
On the data front, Japan’s final machine tool orders slid by 6.3% YoY in September, confirming preliminary estimate. In the prior month, machine tool orders had fallen 8.4%.
In the Asian session, at GMT0300, the pair is trading at 104.14, with the USD trading 0.15% higher against the JPY from yesterday’s close.
The pair is expected to find support at 103.66, and a fall through could take it to the next support level of 103.18. The pair is expected to find its first resistance at 104.41, and a rise through could take it to the next resistance level of 104.68.
Moving ahead, market participants would turn their attention to Japan’s national consumer price inflation, unemployment rate and preliminary Nikkei manufacturing PMI data, all slated to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
