In terms of Dollar/Yen's price action, the U.S. dollar has been in focus due to the trade war between China and the U.S.. The Dollar/Yen will continue to be impacted by any news from this front, especially after Trump's decision to pull the trigger on new tariffs versus the Asian nation. As for fresh data , we don't have any major reports coming out of the U.S. during today's session. On the other hand, we have the Monetary Policy Statement coming out of Japan today ahead of the BOJ Press Conference during Wednesday's session.
The pair opened today's session in a strong bullish manner. USD/JPY seems to be making its move towards the 112.35 resistance where it might break it and continue onward in the direction of the 112.50 area. However, a rejection of this price level may drive prices lower and our focus will be on the 111.70 support area.
Resistance: 112.35 112.50