The Dollar/Yen took out the 107 key resistance level, after risk sentiment recovered on White House Adviser Navarro’s denial that the trade deal has fallen apart and US President Trump confirming that the trade deal is fully intact. Equities took a sharp decline earlier when Navaro mistakenly reported that the trade deal is terminated, however after rectifying the statement, stocks recovered along with the risk sentiment. If this bullish momentum persists, then the bulls will be targeting the 200-period SMA, which is around the 107.50.
Support: 107 / 106.60
Resistance: 107.50 / 107.90
