For the 24 hours to 23:00 GMT, the USD rose 2.61% against the JPY and closed at 110.72.

In the Asian session, at GMT0400, the pair is trading at 110.84, with the USD trading 0.11% higher against the JPY from yesterday’s close.

Data indicated that Japan’s leading economic index rose to 91.6 in December, compared to a revised level of 90.8 in the previous month. On the other hand, the coincident index eased to 94.1 in December, following a reading of 94.7 in the prior month.

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The pair is expected to find support at 110.24, and a fall through could take it to the next support level of 109.63. The pair is expected to find its first resistance at 111.54, and a rise through could take it to the next resistance level of 112.23.

The currency pair is showing convergence with its 20 Hr moving average and trading below its and 50 Hr moving average.

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