For the 24 hours to 23:00 GMT, the USD slightly declined against the JPY and closed at 108.43.
In the Asian session, at GMT0300, the pair is trading at 108.61, with the USD trading 0.17% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.38, and a fall through could take it to the next support level of 108.15. The pair is expected to find its first resistance at 108.78, and a rise through could take it to the next resistance level of 108.95.
Trading trend in the Japanese Yen today, is expected to be determined by Japan’s machine tool orders for May, set to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving average.