USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 112.44.
In the economic news, Japan’s final machine tool orders advanced 11.4% on a yearly basis in June, confirming the preliminary print and after registering a gain of 14.9% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 112.40, with the USD trading a tad lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s national consumer price index (CPI) rose 0.7% on an annual basis in June, undershooting market consensus for an increase of 0.8%. In the prior month, the CPI had recorded a similar rise.
The pair is expected to find support at 111.92, and a fall through could take it to the next support level of 111.43. The pair is expected to find its first resistance at 113.03, and a rise through could take it to the next resistance level of 113.65.
Moving ahead, traders would focus on Japan’s Nikkei manufacturing PMI, coincident index and leading index, due to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
