For the 24 hours to 23:00 GMT, the USD declined 0.48% against the JPY and closed at 110.54.
In the Asian session, at GMT0400, the pair is trading at 110.59, with the USD trading 0.05% higher against the JPY from yesterday’s close.
The pair is expected to find support at 110.38, and a fall through could take it to the next support level of 110.18. The pair is expected to find its first resistance at 110.84, and a rise through could take it to the next resistance level of 111.10.
Looking forward, investors would keep an eye on Japan’s industrial production, retail trade and large retailers’ sales, all for January, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
