For the 24 hours to 23:00 GMT, the USD rose 1.82% against the JPY and closed at 109.86.
In the Asian session, at GMT0400, the pair is trading at 110.04, with the USD trading 0.16% higher against the JPY from yesterday’s close.
The pair is expected to find support at 109.83, and a fall through could take it to the next support level of 109.61. The pair is expected to find its first resistance at 110.19, and a rise through could take it to the next resistance level of 110.33.
Trading trends in the pair today is expected to be determined by Japan’s adjusted merchandise trade balance for December, slated to release overnight.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.