For the 24 hours to 23:00 GMT, the USD declined 0.08% against the JPY and closed at 109.50.
In the Asian session, at GMT0400, the pair is trading at 109.46, with the USD trading a tad lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s adjusted merchandise trade deficit widened to ¥60.8 billion in November, less than market expectations for a deficit of ¥93.6 billion. In the prior month, the nation had posted a revised deficit of ¥48.2 billion in the prior month.
The pair is expected to find support at 109.37, and a fall through could take it to the next support level of 109.28. The pair is expected to find its first resistance at 109.59, and a rise through could take it to the next resistance level of 109.72.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
