For the 24 hours to 23:00 GMT, the USD declined 0.34% against the JPY and closed at 112.44.
In the Asian session, at GMT0400, the pair is trading at 112.31, with the USD trading 0.12% lower against the JPY from yesterday’s close.
Overnight data showed that Japan’s total trade deficit widened more-than-expected to ¥737.3 billion in November, following a deficit of ¥449.3 billion in the previous month. Markets had envisaged the trade deficit to expand to ¥630.0 billion.
The pair is expected to find support at 112.11, and a fall through could take it to the next support level of 111.92. The pair is expected to find its first resistance at 112.58, and a rise through could take it to the next resistance level of 112.86.
Amid lack of economic releases in Japan today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.