For the 24 hours to 23:00 GMT, the USD rose 0.12% against the JPY and closed at 107.36 on Friday.
In the Asian session, at GMT0300, the pair is trading at 107.22, with the USD trading 0.13% lower against the JPY from Friday’s close.
The pair is expected to find support at 107.00, and a fall through could take it to the next support level of 106.78. The pair is expected to find its first resistance at 107.61, and a rise through could take it to the next resistance level of 108.00.
Going ahead, traders will keep a close watch on Japan’s final industrial production data for February, slated to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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