The positive market sentiment kept the Dollar/Yen afloat throughout the day. There was no activity in bond markets, which helped to keep the pair quiet and stable. In economic data, Japan released December Machinery Orders at the beginning of the day, which fell by 0.1% but didn’t impact prices. There isn’t any news scheduled in Japan today.
The Dollar/Yen tried to push towards 111.10 (R1) yesterday but there wasn’t enough momentum to reach it. Price is currently stuck between 111.10 (R1) and 110 (S1) with a minor advantage for the bulls as long as it stays above 110.30 (50-day moving average). A break to either side could confirm the next possible trajectory of this pair.
Support: 110 / 109.60
Resistance: 111.1 / 111.40