USD/JPY in familiar ranges with a bullish bias

FXStreet (Guatemala) - USD/JPY is trading at 120.63, up 0.20% on the day, having posted a daily high at 120.70 and low at 120.17.

USD/JPY remains on the back foot with dips to 120.20 finding demand but is contained on a rallies between 120.60/80.

Besides the general bid tone around the greenback, the Abe cabinet displayed yet further commitment to their plans for easing in approving a JPY3.5 trillion supplemental budget over the weekend which they estimate the spending of will add 0.7% to their GDP, weighing on the Yen.