For the 24 hours to 23:00 GMT, the USD rose 0.08% against the JPY and closed at 107.52.

In the Asian session, at GMT0300, the pair is trading at 107.51, with the USD trading marginally lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s Jibun Bank services PMI jumped to 45.0 in June, compared to a level of 26.5 in the previous month.

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The pair is expected to find support at 107.33, and a fall through could take it to the next support level of 107.16. The pair is expected to find its first resistance at 107.70, and a rise through could take it to the next resistance level of 107.90.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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