For the 24 hours to 23:00 GMT, the USD rose 0.15% against the JPY and closed at 111.77.
Overnight data showed that Japan’s national consumer price index (CPI) rose 0.4% YoY in April, mainly driven by higher energy prices, after reporting an advance of 0.2% in the previous month. Moreover, the core CPI also inched up by 0.3%, but missed analysts’ estimate of a 0.4% increase.
In the Asian session, at GMT0300, the pair is trading at 111.56, with the USD trading 0.19% lower against the USD from yesterday’s close.
The pair is expected to find support at 111.42, and a fall through could take it to the next support level of 111.29. The pair is expected to find its first resistance at 111.82, and a rise through could take it to the next resistance level of 112.09.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
