For the 24 hours to 23:00 GMT, the USD rose 0.3% against the JPY and closed at 112.21.
In the Asian session, at GMT0300, the pair is trading at 112.10, with the USD trading 0.1% lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.55, and a fall through could take it to the next support level of 111.00. The pair is expected to find its first resistance at 112.56, and a rise through could take it to the next resistance level of 113.02.
Looking ahead, market participants will keep a close watch on Japan’s retail trade and large retailers’ sales, both for May, set to release overnight.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
