For the 24 hours to 23:00 GMT, the USD rose 0.31% against the JPY and closed at 112.63.
In the Asian session, at GMT0300, the pair is trading at 112.52, with the USD trading 0.10% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s adjusted merchandise trade deficit widened to ¥238.9 billion in September, expanding for the third consecutive month. In the preceding month, the nation posted a deficit of ¥190.4 billion. Market participants had expected the trade deficit to rise to ¥333.4 billion.
The pair is expected to find support at 112.12, and a fall through could take it to the next support level of 111.71. The pair is expected to find its first resistance at 112.83, and a rise through could take it to the next resistance level of 113.13.
Trading trend in the Japanese Yen today is expected to be determined by Japan’s National consumer price index for September, set to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
