USDJPY Movement
For the 24 hours to 23:00 GMT, the USD weakened 0.28% against the JPY and closed at 83.92.
Japan’s machine tool orders dropped 21.3% (YoY) in November, following 20.7% drop in the previous month.
In the Asian session, at GMT0400, the pair is trading at 84.02, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 83.70, and a fall through could take it to the next support level of 83.38. The pair is expected to find its first resistance at 84.25, and a rise through could take it to the next resistance level of 84.48.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
