For the 24 hours to 23:00 GMT, the USD rose 0.36% against the JPY and closed at 109.65.
In the Asian session, at GMT0300, the pair is trading at 109.64, with the USD trading a tad lower against the JPY from yesterday’s close.
The pair is expected to find support at 109.46, and a fall through could take it to the next support level of 109.29. The pair is expected to find its first resistance at 109.79, and a rise through could take it to the next resistance level of 109.95.
Going forward, investors would closely monitor Japan’s machine tool orders for April, scheduled to release in a while.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.