For the 24 hours to 23:00 GMT, the USD declined 0.69% against the JPY and closed at 109.17.
In the Asian session, at GMT0400, the pair is trading at 108.63, with the USD trading 0.49% lower against the JPY from yesterday’s close.
The pair is expected to find support at 108.03, and a fall through could take it to the next support level of 107.44. The pair is expected to find its first resistance at 109.74, and a rise through could take it to the next resistance level of 110.86.
Moving ahead, market participants would keep a close watch on Japan’s flash leading economic and coincident indices for December, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.