For the 24 hours to 23:00 GMT, the USD declined 0.11% against the JPY and closed at 109.17 on Friday.
In economic news, Japan’s preliminary coincident index advanced to a level of 101.0 in September, higher than market consensus for a rise to a level of 99.5. In the prior month, the index had registered a reading of 99.0. Moreover, the nation’s preliminary leading economic index unexpectedly rose to a level of 92.2 in September, defying market expectations for a fall to a level of 91.7. In the preceding month, the index had recorded a reading of 91.9.
In the Asian session, at GMT0400, the pair is trading at 109.04, with the USD trading 0.12% lower against the JPY from Friday’s close.
Overnight data revealed that Japan’s machinery orders climbed 5.1% on an annual basis in September, less than market expectations for a rise of 7.9%. In the prior month, machinery orders had recorded a decline of 14.5%. Meanwhile, the nation’s trade surplus (BOP basis) unexpectedly narrowed to ¥1.1 billion in September, following a surplus of ¥50.9 billion in the prior month
The pair is expected to find support at 108.87, and a fall through could take it to the next support level of 108.71. The pair is expected to find its first resistance at 109.34, and a rise through could take it to the next resistance level of 109.65.
Moving ahead, investors would await Japan’s machine tool orders for October, slated to release overnight.
