USD/JPY: Range Bound Ahead Of US Data Releases

USD/JPY is range bound ahead of US data releases starting at 12:30GMT. Prices have struggled to move out of the 119.00-50 range amid modest size interest on either side of the market. Exporters and speculative accounts cap gains, while the downside is underpinned by Japanese support. The market looks comfortable around the 119.30 and only a close below 118.90 would cast some doubt on the strong bullish underlying trend. Stops are noted through 119.00, 118.90 and 118.80 and Japanese names note good interest into 118.50 from Japanese institutional investors.