USD/JPY: Experiences Light Trading

USD/JPY experiences light trading, with prices chopping around the 119.50 area in quiet trade. Upside movement has been contained to 119.60 throughout the session, while downside pressure was unable to move through large bids from 119.25. The 120.00 triggers remain an influence, with the speculative market and short-term positional traders looking for a run higher. The near-term picture suggests choppy price action going forward, while 120.00 holds. Bids are noted from 119.35 down to 119.00 and the topside is congested with offers from 119.80 up to 120.00.