For the 24 hours to 23:00 GMT, the USD rose 0.51% against the JPY and closed at 106.49.
In the Asian session, at GMT0300, the pair is trading at 106.71, with the USD trading 0.21% higher against the JPY from yesterday’s close.
The pair is expected to find support at 106.18, and a fall through could take it to the next support level of 105.65. The pair is expected to find its first resistance at 106.99, and a rise through could take it to the next resistance level of 107.27.
Moving forward, traders would keep a watch on Japan’s producer price index for July, slated to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
