USDJPY Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the JPY and closed at 112.49.
In economic news, Japan’s preliminary machine tool orders recorded a rise of 45.3% YoY in September. In the previous month, machine tool orders had risen 36.2%.
In the Asian session, at GMT0300, the pair is trading at 112.42, with the USD trading 0.06% lower against the JPY from yesterday’s close.
Early morning data indicated that Japan’s tertiary industry index unexpectedly fell 0.2% in August, compared to a rise of 0.1% in the previous month and defying market consensus for an advance of 0.1%.
The pair is expected to find support at 112.14, and a fall through could take it to the next support level of 111.85. The pair is expected to find its first resistance at 112.65, and a rise through could take it to the next resistance level of 112.87.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
