For the 24 hours to 23:00 GMT, the USD declined 1.55% against the JPY and closed at 108.44.
In the Asian session, at GMT0300, the pair is trading at 108.14, with the USD trading 0.28% lower against the JPY from yesterday’s close.
The pair is expected to find support at 107.51, and a fall through could take it to the next support level of 106.89. The pair is expected to find its first resistance at 109.17, and a rise through could take it to the next resistance level of 110.21.
Looking forward, traders would keep a watch on Japan’s producer price index for May, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
