For the 24 hours to 23:00 GMT, the USD declined 0.12% against the JPY and closed at 108.35.

In the Asian session, at GMT0300, the pair is trading at 108.30, with the USD trading 0.05% lower against the JPY from yesterday’s close.

Early morning data indicated that Japan’s final industrial production fell 1.1% on a yearly basis, in April, confirming the preliminary print. In the preceding month, the industrial production had recorded a decline of 4.3%.

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The pair is expected to find support at 108.13, and a fall through could take it to the next support level of 107.97. The pair is expected to find its first resistance at 108.50, and a rise through could take it to the next resistance level of 108.71.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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