For the 24 hours to 23:00 GMT, the USD declined 0.05% against the JPY and closed at 110.48.

In the Asian session, at GMT0300, the pair is trading at 110.43, with the USD trading 0.05% lower against the JPY from yesterday’s close.

The pair is expected to find support at 110.28, and a fall through could take it to the next support level of 110.13. The pair is expected to find its first resistance at 110.60, and a rise through could take it to the next resistance level of 110.77.

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Looking forward, Japan’s over household spending data and labour cash earnings, both for May, set to release overnight, will keep investors on their toes.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


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