The dollar/yen attempted to break above the 50-SMA after huge USD demand as investors ran to safety. However, that rush was short-lived, as equities were able to trim its losses as US policymakers vote on the much-awaited stimulus, and the new strain of Covid be cured with the current vaccine enrollment. Today, we might see the pair attempting to retest the 50-SMA as we await clearer direction.
Support: 103.20 / 102.50
Resistance: 103.70 / 104.20
