For the 24 hours to 23:00 GMT, the USD declined 0.33% against the JPY and closed at 109.39.
In the Asian session, at GMT0300, the pair is trading at 109.46, with the USD trading 0.06% higher against the JPY from yesterday’s close.
The pair is expected to find support at 109.10, and a fall through could take it to the next support level of 108.74. The pair is expected to find its first resistance at 109.92, and a rise through could take it to the next resistance level of 110.38.
Moving forward, traders would keenly await Japan’s flash 1Q GDP and consumer inflation data, both due to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
