For the 24 hours to 23:00 GMT, the USD rose 0.41% against the JPY and closed at 110.55.
On the data front, Japan’s flash manufacturing PMI climbed to a level of 52.5 in August, expanding for the 24th consecutive month and supported by strong domestic demand. In the prior month, the PMI recorded a reading of 52.3.
In the Asian session, at GMT0300, the pair is trading at 110.87, with the USD trading 0.29% higher against the JPY from yesterday’s close.
The pair is expected to find support at 110.40, and a fall through could take it to the next support level of 109.94. The pair is expected to find its first resistance at 111.11, and a rise through could take it to the next resistance level of 111.36.
Going forward, traders will keep an eye on Japan’s final leading and coincident indices, both for June, scheduled to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
