The pair closed higher after Friday's session. This came on the back of hawkish Fed policymakers' comments from the U.S.. Moreover, this could have been slightly boosted by the possibility of trade talks between the U.S. and China. During today's session we have the Empire State Manufacturing Index report which is a minor one coming out of the U.S.. As for Japan, it will be quiet during today's session as we await the Monetary Policy Statement due during tomorrow's session. The Dollar/Yen will also continue to focus on any updates from the U.S. and China's trade war and whether they will have any trade talks or not.
During today's session, the Dollar may remain strong against the Japanese Yen pushing the pair towards the 112.05 resistance where it may break this level and continue its move higher. This upward move will be highly dependent on the next move of the trade talks between the U.S. and China.
Support: 111.80 111.47
Resistance: 112.05 112.09