The dollar/yen barely bounced 20 pips yesterday touching the 200 SMA amid a risk-on environment, as persistent dollar weakness is putting a cap to the pair’s advance. Despite that, the pair posted a higher high and a higher low for the day, somehow lifting odds of recovery. Progress in coronavirus vaccines and stimulus talks will likely keep boosting investors’ mood, pushing the pair higher today towards 104.75.
Support: 104.20 / 103.70
Resistance: 104.75 / 105
