USD/JPY: Static In Holiday Thin Trade

USD/JPY is static in holiday thin trade, with reduced volumes limiting interest. The pair retains a supportive tone ahead of 119.00 after surging higher overnight after the North Korean nuclear test. European morning activity suggests we may experience a period of corrective price action. Overbought readings on the daily charts and the holiday trading conditions may see prices revert to levels just under 119.00. Bids are noted from 118.80 down to 118.50, while the topside is well contained amid offers from 119.30 up to 119.50, with option barriers confirmed at the latter.