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Anzo Lim

USD/JPY -- Declining Machinery Orders Weighs On Japanese Yen.

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Recent economic statistics just released by Japan shows that after seasonal adjustment, core machinery orders in Japan declined 2.4 percent from a month earlier in August 2019, 1% less compared with market consensus. Compared to the same month of the previous year, core machinery orders tumbled 14.5% in August, contrasting Julys 0.3% increase.

 

The data suggests Japans economy is under pressure. Japanese government and the central bank is determined to take all measures necessary to revive the economy.

 

USD/JPY daily pivot points: 107.28---107.42

 

S1: 107.07             R1: 107.77

 

S2: 106.65             R2: 108.05

 

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