For the 24 hours to 23:00 GMT, the USD declined 0.24% against the JPY and closed at 105.76.

In the Asian session, at GMT0300, the pair is trading at 105.57, with the USD trading 0.18% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s Jibun Bank services PMI climbed to 45.4 in July, compared to a reading of 45.0 in the previous month.

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The pair is expected to find support at 105.32, and a fall through could take it to the next support level of 105.07. The pair is expected to find its first resistance at 106.01, and a rise through could take it to the next resistance level of 106.45.

Amid a lack of macroeconomic releases in Japan today, investor sentiment would be determined by global macroeconomic factors.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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