For the 24 hours to 23:00 GMT, the USD rose 0.16% against the JPY and closed at 111.29.
On the macro front, Japan’s flash machine tool orders plunged 29.3% on an annual basis in February, recording its largest fall since 2009 and following a decline of 18.8% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 111.41, with the USD trading 0.11% higher against the JPY from yesterday’s close.
The pair is expected to find support at 111.14, and a fall through could take it to the next support level of 110.88. The pair is expected to find its first resistance at 111.56, and a rise through could take it to the next resistance level of 111.72.
Looking forward, investors would closely monitor Japan’s machine orders for January, scheduled to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
