Dollar/yen has departed from the 111 handle and is trading at 112.42, breaking resistance at 112.20 which served as resistance. The background is a day full of central bank activity, with the most important member yet to speak. Markets are not waiting for Fed Chair Janet Yellen, which speaks at 17:00 GMT. The action now does not mean she won’t rock markets. It is important to note that the dollar does not enjoy the same strength against other currencies, with EUR/USD topping 1.13. Fed Speak Patrick Harker of the Philadelphia Fed resumed his hawkish stance by saying that he would like to raise rates despite the weakness in inflation. He sees the current weakness as temporary. However, when asked about wages, Harker seemed less confident. He said that salaries are not what the Fed wanted to see. In addition, Harker revealed that there is a debate within the Fed about a “low inflation world”. This shows signs of worry. On the other hand, San Francisco Fed President John Williams seemed more cautious. He said he will watch inflation closely given the recent data. He was one of the more optimistic FOMC members. US consumer confidence came out better than expected, with 118.9 points, according to the Conference Board. This read for June is also better than the one seen in the previous month. USD/JPY levels Dollar/yen could face resistance at 113. This is followed by the cycle high of 114.20. It is unlikely that we will see a move before Yellen talks. On the downside, the pair finds support at 112.20, followed by 111.80. More: JPY: Risk Of Further Weakness N-Term – BTMU Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next CAD: Fade Strength On The Crosses; What’s The Trade? – Yohay Elam 6 years Dollar/yen has departed from the 111 handle and is trading at 112.42, breaking resistance at 112.20 which served as resistance. The background is a day full of central bank activity, with the most important member yet to speak. Markets are not waiting for Fed Chair Janet Yellen, which speaks at 17:00 GMT. The action now does not mean she won't rock markets. It is important to note that the dollar does not enjoy the same strength against other currencies, with EUR/USD topping 1.13. Fed Speak Patrick Harker of the Philadelphia Fed resumed his hawkish stance by saying that he would… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.