USD/JPY Higher, Japan's Machine Orders Decline

USD/JPY is trading at 103.58, up 0.23. The pair is trading just under the session highs. Japan's Cabinet Office reported that machinery orders fell 2.2 percent during August compared to a 4.9 percent rise in July. Year over year machinery orders rose by 11.6 percent in August following a 5.2 percent year over year rise in July. Japan's Machine Tool Builders Association (JMTBA) reported that year over year machine tool orders fell 6.3 percent in September versus a decline of 8.4 percent decline in August.