During yesterday’s session the Dollar rallied against the Japanese Yen which gave the pair a strong start for the week. This may attributed to the continued impact of the U.S. jobs report late last week. In addition, the trade war between the U.S. and China remains a key driver for the pair and may be another reason for such a movement. But the market remains confused with traders awaiting news on the tariff implementation to decide what their next move will be. Moreover, there aren’t any major reports coming out of the U.S. and Japan during today’s session.
The U.S. Dollar started the week strongly against the Japanese Yen during yesterday's session. During today's session the pair may retreat towards the 111.50 figure before reversing and bearishly moving in the direction of the 111.10 area.
Support: 111.10 110.93
Resistance: 111.50 111.65