For the 24 hours to 23:00 GMT, the USD declined 0.37% against the JPY and closed at 113.70 on Friday.
In the Asian session, at GMT0400, the pair is trading at 113.58, with the USD trading 0.11% lower from Friday’s close.
Overnight data indicated that Japan’s retail trade rose 2.2% on a yearly basis in September, compared to a revised advance of 1.8% in the previous month. Market anticipation was for retail trade to rise 2.3%.
The pair is expected to find support at 113.26, and a fall through could take it to the next support level of 112.93. The pair is expected to find its first resistance at 114.18, and a rise through could take it to the next resistance level of 114.77.
Going ahead, investors would focus on Japan’s jobless rate and preliminary industrial production data, both for September, scheduled to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
