090720 USDJPY

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

USD/JPY: Japan capital spending show resilience

Japan core machinery orders, which indicates the trend in capex spending, posted a positive surprise in May with a 1.7% increase vs a 5% decline forecast and after a 12% drop in April. 

From a technical point of view, on a daily chart, the pair remains under pressure below a declining trend line drawn since early March. The daily RSI remains within its selling area. Readers may therefore consider the potential for further weakness below resistance at 108.2 (early July top). The nearest support would be set at 106.00 (June bottom) and a second one would be set at 104.15 (March 13 bottom) in extension.

Source : TradingVIEW, Gain Capital

Related tags: Forex USD Forex JPY

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar