For the 24 hours to 23:00 GMT, the USD declined 0.36% against the JPY and closed at 108.64.
In the Asian session, at GMT0400, the pair is trading at 108.56, with the USD trading 0.07% lower against the JPY from yesterday’s close.
Overnight data revealed that Japan’s services PMI expanded to a level of 50.3 in November, less than market expectations for a rise to a level of 50.4. In the prior month, the PMI had registered a reading of 49.7.
The pair is expected to find support at 108.29, and a fall through could take it to the next support level of 108.02. The pair is expected to find its first resistance at 109.02, and a rise through could take it to the next resistance level of 109.48.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
