USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.19% against the JPY and closed at 112.77.
In the economic news, Japan’s final machine tool orders climbed 5.1% on an annual basis in August. In the previous month, machine tool orders had risen 13.1%, while preliminary figures had indicated an advance of 5.3%.
In the Asian session, at GMT0300, the pair is trading at 112.81, with the USD trading a tad higher against the JPY from yesterday’s close.
The pair is expected to find support at 112.58, and a fall through could take it to the next support level of 112.35. The pair is expected to find its first resistance at 113.09, and a rise through could take it to the next resistance level of 113.37.
Looking ahead, investors would keep an eye on Japan’s jobless rate, retail trade, large retailers’ sales and industrial production data, all for August, slated to release overnight.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
