For the 24 hours to 23:00 GMT, the USD declined 0.83% against the JPY and closed at 111.51 on Friday.
In the Asian session, at GMT0300, the pair is trading at 110.96, with the USD trading 0.49% lower against the JPY from Friday’s close.
The pair is expected to find support at 110.32, and a fall through could take it to the next support level of 109.68. The pair is expected to find its first resistance at 112.05, and a rise through could take it to the next resistance level of 113.14.
Looking forward, traders would closely monitor Japan’s flash Nikkei manufacturing PMI for July, set to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
