For the 24 hours to 23:00 GMT, the USD declined 0.06% against the JPY and closed at 108.56.

In the Asian session, at GMT0300, the pair is trading at 108.38, with the USD trading 0.17% lower against the JPY from yesterday’s close.

The pair is expected to find support at 108.23, and a fall through could take it to the next support level of 108.09. The pair is expected to find its first resistance at 108.62, and a rise through could take it to the next resistance level of 108.87.

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Going ahead, traders would await Japan’s trade balance data for May, slated to release overnight.

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

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