For the 24 hours to 23:00 GMT, the USD rose 0.15% against the JPY and closed at 111.19 on Friday.
In the Asian session, at GMT0300, the pair is trading at 110.35, with the USD trading 0.76% lower against the JPY from Friday’s close.
The Bank of Japan (BoJ), in its summary of opinions report from its March meeting, indicated that easy monetary policy will be in place for some time as consumer price growth is still distant from the central bank’s 2% inflation target.
The pair is expected to find support at 109.89, and a fall through could take it to the next support level of 109.44. The pair is expected to find its first resistance at 111.14, and a rise through could take it to the next resistance level of 111.94.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
