For the 24 hours to 23:00 GMT, the USD declined 0.17% against the JPY and closed at 111.39.
In the Asian session, at GMT0400, the pair is trading at 111.22, with the USD trading 0.15% lower against the JPY from yesterday’s close.
The pair is expected to find support at 111.05, and a fall through could take it to the next support level of 110.89. The pair is expected to find its first resistance at 111.49, and a rise through could take it to the next resistance level of 111.77.
Going ahead, traders would await the Bank of Japan’s January meeting minutes, set to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
