USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.25% against the JPY and closed at 114.45 on Friday.
In the Asian session, at GMT0400, the pair is trading at 114.13, with the USD trading 0.28% lower against the JPY from Friday’s close.
Overnight data showed that Japan’s machinery orders slid more-than-expected by 5.1% MoM in November, declining at the fastest pace in seven months. Meanwhile, investors had envisaged machinery orders to fall 1.4%, after recording an advance of 4.1% in the previous month.
Early morning data indicated that the nation’s tertiary industry index rose 0.2% on a monthly basis in November, meeting market expectations. In the previous month, the index had registered a similar rise.
The pair is expected to find support at 113.58, and a fall through could take it to the next support level of 113.03. The pair is expected to find its first resistance at 115.06, and a rise through could take it to the next resistance level of 115.99.
Moving ahead, investors await Japan’s industrial production data, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
