For the 24 hours to 23:00 GMT, the USD declined 0.17% against the JPY and closed at 109.01.
In the Asian session, at GMT0300, the pair is trading at 109.32, with the USD trading 0.28% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.86, and a fall through could take it to the next support level of 108.41. The pair is expected to find its first resistance at 109.55, and a rise through could take it to the next resistance level of 109.79.
Going ahead, Japan’s flash Nikkei manufacturing PMI for August, scheduled to release overnight, will garner significant amount of market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
