For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 106.82.
In the Asian session, at GMT0300, the pair is trading at 106.89, with the USD trading 0.07% higher against the JPY from yesterday’s close.
Earlier today, the Bank of Japan (BoJ) Governor, Haruhiko Kuroda, reiterated his optimistic view on meeting the central bank’s 2.0% inflation target, but stuck to his pledge of maintaining the central bank’s massive stimulus programme.
The pair is expected to find support at 106.65, and a fall through could take it to the next support level of 106.40. The pair is expected to find its first resistance at 107.14, and a rise through could take it to the next resistance level of 107.38.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
