USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the JPY and closed at 111.82.
In the Asian session, at GMT0400, the pair is trading at 112.09, with the USD trading 0.24% higher against the JPY from yesterday’s close.
Overnight data showed that, Japan’s machinery orders rebounded 6.7% on a monthly basis in December, surpassing market expectations for a rise of 3.0%. In the prior month, machinery orders had dropped 5.1%.
The pair is expected to find support at 111.64, and a fall through could take it to the next support level of 111.19. The pair is expected to find its first resistance at 112.51, and a rise through could take it to the next resistance level of 112.93.
Moving ahead, Japan’s tertiary industry index for December, scheduled to release tomorrow, will be eyed by market participants.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
