USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.77% against the JPY and closed at 109.28, as demand for safe-haven currency diminished after Hurricane Irma caused less damage than initially anticipated and as North Korea celebrated its founding day without new provocations.
On the macro front, Japan’s preliminary machine tool orders rose 36.3% on a yearly basis in August, after advancing 28.0% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 109.30, with the USD trading a tad higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.55, and a fall through could take it to the next support level of 107.81. The pair is expected to find its first resistance at 109.81, and a rise through could take it to the next resistance level of 110.33.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
