For the 24 hours to 23:00 GMT, the USD rose 1.33% against the JPY and closed at 106.67.

Data indicated that Japan’s preliminary machine tool orders fell 33.0% on an annual basis in July, following a decline of 37.9% in the prior month.

In the Asian session, at GMT0300, the pair is trading at 106.30, with the USD trading 0.35% lower against the JPY from yesterday’s close.

- advertisement -

Overnight data showed that the nation’s machinery orders unexpectedly advanced 12.5% on an annual basis in June, rising by the most in a year and defying market anticipations for a drop of 1.1%. In the prior month, machinery orders had recorded a fall of 3.7%.

The pair is expected to find support at 105.25, and a fall through could take it to the next support level of 104.20. The pair is expected to find its first resistance at 107.16, and a rise through could take it to the next resistance level of 108.02.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.