USDJPY Movement
For the 24 hours to 23:00 GMT, the USD strengthened 0.26% against the JPY and closed at 79.06.
Machine tool orders in Japan declined 2.8% (YoY) in September, compared to a 3.0% drop recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 79.15, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 78.77, and a fall through could take it to the next support level of 78.40. The pair is expected to find its first resistance at 79.36, and a rise through could take it to the next resistance level of 79.58.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
