The Dollar/Yen continues to range around the 13-period moving average as investors await a clear update on the trade negotiations between the US and China. The outcome of the trade negotiations between the US and China will have a great impact on global equities and will drive demand for the Japanese Yen. Going forward, investors can use the performance of US equity futures to guide their Dollar/Yen trades.
The Dollar/Yen ranges around the 13-period moving average but remains to trade fairly above it signaling that the pair's bias is leaning more towards the bullish side. If prices return back above 109.50 then the 110.10 resistance level will be exposed.
Support: 108.93 / 108.59
Resistance: 109.53 / 110.10