USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.42% against the JPY and closed at 111.61.
In economic news, Japan’s flash machine tool orders rose 5.3% on a yearly basis in August, compared to a rise of 13.1% in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 111.47, with the USD trading 0.13% lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.28, and a fall through could take it to the next support level of 111.10. The pair is expected to find its first resistance at 111.65, and a rise through could take it to the next resistance level of 111.84.
Looking forward, investors would focus on Japan’s machinery orders for July, scheduled to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
