For the 24 hours to 23:00 GMT, the USD rose 0.27% against the JPY and closed at 107.81.

In the Asian session, at GMT0300, the pair is trading at 108.03, with the USD trading 0.20% higher against the JPY from yesterday’s close.

Overnight data showed that Japan’s machinery orders declined 6.6% on a monthly basis in July, less than market expectations for a drop of 9.9%. In the prior month, machinery orders had recorded an increase of 13.9%.

- advertisement -

The pair is expected to find support at 107.73, and a fall through could take it to the next support level of 107.42. The pair is expected to find its first resistance at 108.22, and a rise through could take it to the next resistance level of 108.40.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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