For the 24 hours to 23:00 GMT, the USD rose 0.56% against the JPY and closed at 109.10.
In the Asian session, at GMT0400, the pair is trading at 109.04, with the USD trading 0.05% lower against the JPY from yesterday’s close.
The pair is expected to find support at 108.58, and a fall through could take it to the next support level of 108.12. The pair is expected to find its first resistance at 109.35, and a rise through could take it to the next resistance level of 109.66.
Moving ahead, traders would keep an eye on Japan’s national consumer price index for December, slated to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
