The pair printed modest losses in yesterday’s trading session, weighed mostly by the fears of slower global economic growth. Earlier this morning, Japan released several macroeconomic reports, but none of them really had any impact on the Dollar/Yen. Investors are mainly focused on the global equity markets to develop the appropriate market sentiment.
Nothing has changed for the Dollar/Yen as it continued to trade in the same range as yesterday. between 109.60 (S1) and 110 (R1). We need to see a breakout to either side to confirm the next possible trajectory on this pair. In these type of scenarios, the best thing to do is to do nothing but wait for a breakout before entering a trade.
Support: 109.50 / 109.1
Resistance: 110 / 111.10