For the 24 hours to 23:00 GMT, the USD strengthened 0.41% against the JPY and closed at 104.66.
In Japan, the Bank of Japan (BoJ) Governor, Haruhiko Kuroda, dismissed the need for an additional monetary easing measure, as according to him, prices in the nation are headed towards the central bank’s inflation target. He also added that “the current policy would continue” should risks to the BoJ’s price forecast materialize.
In the Asian session, at GMT0400, the pair is trading at 104.35, with the USD trading 0.29% lower from yesterday’s close.
The pair is expected to find support at 103.94, and a fall through could take it to the next support level of 103.54. The pair is expected to find its first resistance at 104.81, and a rise through could take it to the next resistance level of 105.27.
Later today, the BoJ is expected to publish its monthly economic survey report.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
