The Dollar/Yen continues to range around the 13 and 50-period moving averages as investors await any updates related to the ongoing trade negotiations between the US and China. The US/China trade negotiations are probably the biggest driver of sentiment in the market, since better US/China relations will have a large positive impact on global markets. Keep in mind that improved market sentiment will decrease the demand for safe haven assets and currencies, including the Japanese Yen. For today, in addition to any updates relating to the US/China trade talks, investors need to monitor the results of the US Consumer Confidence report as it will affect the pair from the US Dollar's side.
The Dollar/Yen continues to range around the 13 and 50-period moving averages as a signal of indecision in the market. A bullish catalyst will help the pair break above the 109.50 resistance, paving the way for a rise towards 110.10. While a bearish catalyst will help the pair break below the 109.11 support, paving the way for a drop towards 108.59.
Support: 109.11 / 108.59
Resistance: 109.50 / 110.10