For the 24 hours to 23:00 GMT, the USD rose 0.65% against the JPY and closed at 106.53.
In the Asian session, at GMT0300, the pair is trading at 106.51, with the USD trading slightly lower against the JPY from yesterday’s close.
Overnight data indicated that Japan’s Nikkei services PMI fell to a level of 50.9 in March, expanding at its weakest pace since October 2016. The PMI had recorded a level of 51.7 in the prior month.
The pair is expected to find support at 105.96, and a fall through could take it to the next support level of 105.41. The pair is expected to find its first resistance at 106.86, and a rise through could take it to the next resistance level of 107.21.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
