For the 24 hours to 23:00 GMT, the USD rose 0.73% against the JPY and closed at 106.20.
In the Asian session, at GMT0400, the pair is trading at 106.35, with the USD trading 0.14% higher against the JPY from yesterday’s close.
The pair is expected to find support at 105.65, and a fall through could take it to the next support level of 104.94. The pair is expected to find its first resistance at 106.76, and a rise through could take it to the next resistance level of 107.16.
Looking ahead, market participants would keep a close watch on Japan’s flash leading economic and coincident indices for January, set to release tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
