For the 24 hours to 23:00 GMT, the USD declined 0.10% against the JPY and closed at 107.02.
In the Asian session, at GMT0300, the pair is trading at 107.26, with the USD trading 0.22% higher against the JPY from yesterday’s close.
Overnight data showed that Japan posted an adjusted merchandise trade surplus of ¥119.2 billion in March, compared to a deficit of ¥201.5 billion in the prior month. Market expectation was for the nation to record an adjusted merchandise trade surplus of ¥104.0 billion.
The pair is expected to find support at 106.98, and a fall through could take it to the next support level of 106.71. The pair is expected to find its first resistance at 107.43, and a rise through could take it to the next resistance level of 107.61.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
