For the 24 hours to 23:00 GMT, the USD declined 0.98% against the JPY and closed at 108.62.
In the Asian session, at GMT0300, the pair is trading at 108.71, with the USD trading 0.08% higher against the JPY from yesterday’s close.
The pair is expected to find support at 108.29, and a fall through could take it to the next support level of 107.87. The pair is expected to find its first resistance at 109.34, and a rise through could take it to the next resistance level of 109.97.
Moving ahead, market participants will look forward to Japan’s flash leading and coincident indices for July, due to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.