The sell-off has cooled off a little bit in the developed markets, but it is still too early to bet on a Dollar/Yen reversal. The spotlight remains on any news from the tensions between the U.S. and Turkey. In addition to that, any tweets from Trump that may raise tensions between the U.S. and China or Russia may also impact USD/JPY.
Yesterday we saw a reversal towards the upside. After the pair has cooled off we may see a move today in the direction of the 111.05 level before changing again and approaching the 110.15 support.
Support: 110.15 109.94
Resistance: 111.05 111.25