USDJPY Movement
For the 24 hours to 23:00 GMT, the USD declined 0.68% against the JPY and closed at 109.54.
In economic news, Japan’s final machine tool orders sank 33.4% on an annual basis in April, confirming the preliminary print and following a drop of 28.5% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 109.60, with the USD trading 0.05% higher against the JPY from yesterday’s close.
Overnight data indicated that the national consumer price index (CPI) climbed 0.9% on a yearly basis in April, in line with market expectations. In the prior month, the CPI had recorded a rise of 0.5%.
The pair is expected to find support at 109.25, and a fall through could take it to the next support level of 108.91. The pair is expected to find its first resistance at 110.15, and a rise through could take it to the next resistance level of 110.71.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
