USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.07% against the JPY and closed at 102.47.
In economic news, machine tools orders in Japan rose 39.6% (YoY) in January, compared to a 28.1% increase registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 102.14, with the USD trading 0.32% lower from yesterday’s close.
Earlier today, data from Japan showed that domestic corporate goods price index in the nation advanced 2.4% (YoY) in January, in-line with market estimate and compared to a 2.5% (YoY) rise recorded in December.
The pair is expected to find support at 101.93, and a fall through could take it to the next support level of 101.73. The pair is expected to find its first resistance at 102.49, and a rise through could take it to the next resistance level of 102.85.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
