USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the JPY and closed at 107.08.
In the Asian session, at GMT0300, the pair is trading at 107.49, with the USD trading 0.38% higher against the JPY from yesterday’s close.
Overnight data showed that Japan’s producer price index declined 1.1% on an annual basis in September, less than market consensus for a drop of 1.2%. In the prior month, the index had recorded a drop of 0.9%. Additionally, the nation’s machinery orders plunged 14.5% on an annual basis in August, more than market expectations for a drop of 10.8%. In the prior month, the machinery orders had recorded a rise of 0.3%.
The pair is expected to find support at 107.10, and a fall through could take it to the next support level of 106.70. The pair is expected to find its first resistance at 107.83, and a rise through could take it to the next resistance level of 108.16.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
