Japan: Better machinery orders than expected
From a technical point of view, on an intraday chart, USD/JPY stands above an overlap at 107.50. Readers may therefore consider the potential for further rise as the nearest resistance would be set at today’s morning top at 108.00 and a second one would be set at strong horizontal resistance at 108.15 in extension. Any break below 107.50 would lower the bullish potential and would lead to a weakness towards 107.35.
Source: TradingView, GAIN Capital