For the 24 hours to 23:00 GMT, the USD rose 0.15% against the JPY and closed at 109.67.
Yesterday, data showed that Japan’s final leading economic index advanced to 106.2 in April, compared to a revised level of 104.5 in the previous month. The preliminary figures had envisaged for a rise to a level of 105.6. Furthermore, the nation’s preliminary coincident index rose to 117.5 in April, while preliminary figures had recorded an advance to 117.7. The coincident index had recorded a revised level of 116.0 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 109.42, with the USD trading 0.23% lower against the JPY from yesterday’s close.
The pair is expected to find support at 109.18, and a fall through could take it to the next support level of 108.94. The pair is expected to find its first resistance at 109.85, and a rise through could take it to the next resistance level of 110.28.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
