- USD/JPY has been caught in a 50 pips range since the Asia open last Friday
- Dealers are reporting that local importers are keeping their bids close, hence good support at 106.80-90
- To the topside, option-related supply noted pre-107.50
- Specs not keen to chase this higher ahead of the key USD event this week
- Pair is likely to consolidate further ahead of the FOMC tomorrow
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