The US dollar continues to consolidate at elevated levels against the Japanese yen currency on Thursday as traders await the latest news from Sino-US trade talks in Washington. Bullish trade talks news could provoke a move higher in the USDJPY pair towards the 112.10 level. Bearish news will likely cause the USDJPY pair to decline sharply back towards the 110.00 support level.
If bulls move price above the 111.60 level, further gains towards the 112.10 and 112.60 levels appear likely.
If the USDJPY pair falls below the 111.00 level, key technical support is located at the 110.60 and 110.00 level.
