Speculation emerged over the weekend that the Finnish goalkeeper, entering the final year of his Trotters contract, had snubbed a one-year extension on his deal.
It was claimed the 36-year-old, who has been linked with Manchester City and Stoke this summer, had been hoping to agree better terms.
However, Coyle has rubbished such rumours by insisting discussions are still ongoing, and says he remains optimistic of striking a deal.
"I'm very relaxed with the situation regarding Jussi," Coyle told the Bolton News.
"It's like any negotiation, you can't just click your fingers and expect it to be resolved.
"Jussi Jaaskelainen has been outstanding for Bolton Wanderers and Bolton Wanderers have been outstanding for him. That's why it's a very good fit and I don't see that changing."
Jaaskelainen is preparing to enter his 15th season at Bolton having joined from native club Vaasan Palloseura back in 1997.
The former Finland international has amassed over 500 appearances for the Trotters.