USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.68% against the JPY and closed at 124.21.
In the Asian session, at GMT0300, the pair is trading at 124.43, with the USD trading 0.18% higher from yesterday’s close. The Yen lost ground, after Japan’s machinery orders dropped in June.
Japan’s machinery orders fell 7.90% in June, higher than market anticipations for a 5.10% drop. Machinery orders had risen 0.60% in the past month.
The pair is expected to find support at 123.72, and a fall through could take it to the next support level of 123.01. The pair is expected to find its first resistance at 125.21, and a rise through could take it to the next resistance level of 125.99.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
