For the 24 hours to 23:00 GMT, the USD declined 0.1% against the JPY and closed at 111.26.
In the Asian session, at GMT0300, the pair is trading at 110.84, with the USD trading 0.38% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s jobless rate remained unchanged at 2.8% in April, meeting market expectations. Meanwhile, the nation’s seasonally adjusted retail trade advanced more-than-expected by 1.4% MoM in April, compared to a gain of 0.2% in the previous month. Market expectation was for retail trade to climb 0.1%. Also, the nation’s large retailers’ sales rebounded 1.1% in April, following a drop of 0.8% in the previous month.
The pair is expected to find support at 110.61, and a fall through could take it to the next support level of 110.39. The pair is expected to find its first resistance at 111.23, and a rise through could take it to the next resistance level of 111.63.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
