Another summer day in the markets with the Yen ranging between 124.20 and 124.40. Weekly range is about 40 pips wide at the moment, the smallest this year. But perhaps it is just a calm before the storm, which may come by way of US inflation report (12:30GMT) and FOMC meeting minutes (18:00GMT) later in the day.

Support: 124.15 - 124.20 (Weekly Low, Low Of Day, Daily Support 1)
Resistance: 124.45 - 124.60 (Weekly Pivot Point, High Of Day, 50's, Previous Day High, Daily Resistance 1)

However, unless we get a big surprise in one of the above-mentioned events, any breakouts from the range will likely be faded.

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