USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 1.33% against the JPY and closed at 106.67.
Data indicated that Japan’s preliminary machine tool orders fell 33.0% on an annual basis in July, following a decline of 37.9% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 106.30, with the USD trading 0.35% lower against the JPY from yesterday’s close.
Overnight data showed that the nation’s machinery orders unexpectedly advanced 12.5% on an annual basis in June, rising by the most in a year and defying market anticipations for a drop of 1.1%. In the prior month, machinery orders had recorded a fall of 3.7%.
The pair is expected to find support at 105.25, and a fall through could take it to the next support level of 104.20. The pair is expected to find its first resistance at 107.16, and a rise through could take it to the next resistance level of 108.02.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
