USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.49% against the JPY and closed at 99.81.
In the Asian session, at GMT0300, the pair is trading at 99.56, with the USD trading 0.25% lower from yesterday’s close. Earlier today, a government report showed that machinery orders in Japan rose 6.5% (YoY) in July, defying analysts’ expectation for a rise to 7.6% and following a rise 4.9% in the previous month.
The pair is expected to find support at 99.10, and a fall through could take it to the next support level of 98.63. The pair is expected to find its first resistance at 100.32, and a rise through could take it to the next resistance level of 101.08.
Amid lack of economic data from Japan, traders are expected to keep a close watch over global economic news for further guidance.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
