For the 24 hours to 23:00 GMT, the USD rose 0.21% against the JPY and closed at 106.05.

In the Asian session, at GMT0400, the pair is trading at 106.25, with the USD trading 0.19% higher against the JPY from yesterday’s close.

Earlier today, data indicated that Japan’s final leading economic index dropped to a level of 105.6 in January, while the preliminary print had indicated a revised fall to a level of 106.8. The index had registered a level of 107.4 in the previous month. Moreover, the nation’s final coincident index eased to a level of 114.9 in January, less than an initial estimate indicating a revised fall to a level of 119.7. In the prior month, the index had registered a level of 120.2.

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The pair is expected to find support at 105.85, and a fall through could take it to the next support level of 105.45. The pair is expected to find its first resistance at 106.48, and a rise through could take it to the next resistance level of 106.71.

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

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