For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 110.44 on Friday.
In the Asian session, at GMT0400, the pair is trading at 110.50, with the USD trading 0.05% higher against the JPY from Friday’s close.
Overnight data indicated that Japan’s machinery orders declined to its lowest level in 10-years by 0.1% on a monthly basis in December, weighed down by global trade conflicts and following a steady reading in the preceding month.
The pair is expected to find support at 110.29, and a fall through could take it to the next support level of 110.08. The pair is expected to find its first resistance at 110.68, and a rise through could take it to the next resistance level of 110.86.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
