For the 24 hours to 23:00 GMT, the USD rose 0.45% against the JPY and closed at 107.66.
In the Asian session, at GMT0400, the pair is trading at 108.31, with the USD trading 0.60% higher against the JPY from yesterday’s close.
Overnight data showed that Japan’s final manufacturing PMI climbed to a level of 52.6 in December, as output growth accelerated at its strongest pace in eight months. In the previous month, the PMI had registered a level of 52.2, while preliminary figures indicated a rise to a level of 52.4.
The pair is expected to find support at 107.22, and a fall through could take it to the next support level of 106.14. The pair is expected to find its first resistance at 108.92, and a rise through could take it to the next resistance level of 109.54.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
