The Dollar found support against the anti-risk Yen on Friday, following a mixed US employment report, partially weighed by persistent weakness in government bond yields, but with the upside limited by the strong momentum in equities, both triggered by mounting speculation the US Federal Reserve may need to cut rates further following the latest US dismal growth data. This week, US-China are finally meeting to find a possible resolution of their long-lasting trade war. So far, the news look positive, as both parties are willing to compromise to find a solution. The Dollar will likely pick up some steam throughout this week if the sentiment remains the same.
The Dollar bulls found some support around 106.50, as they are looking to push higher and retest the 200-day moving average and 107.22-resistance level. The sellers on the other hand, need to break below 106.50 to resume their latest bearish domination.
Support: 106.75/ 106.48
Resistance: 107 / 107.22