For the 24 hours to 23:00 GMT, the USD declined 2.64% against the JPY and closed at 107.24.

In the Asian session, at GMT0300, the pair is trading at 107.50, with the USD trading 0.24% higher against the JPY from yesterday’s close.

The pair is expected to find support at 106.97, and a fall through could take it to the next support level of 106.43. The pair is expected to find its first resistance at 107.99, and a rise through could take it to the next resistance level of 108.47.

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

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