USD/JPY challenges 101.30 once again amid thin markets

The bears extend control for the third straight session, keeping USD/JPY in the red amid thin liquidity as the Japanese markets remain closed on account of Mountain Day.

USD/JPY supported at 101.00

The dollar-yen pair moves back and forth in a 30-pips narrow range so far this session, in response to a lack of fresh fundamental drivers amid holiday-thinned markets.

Moreover, muted trading activity seen around the greenback against its major peers, also fails to provide any impetus to the major. While the yen remains better bid as sentiment sours on falling Asian equities alongside oil prices.

At the time of writing, USD/JPY trades marginally lower around 101.25, trying hard to surpass 101.30 levels.

Markets now eagerly await the US datasets due on the cards later today for further incentives on the major.

USD/JPY Technical levels to watch

In terms of technicals , the immediate resistance is located at 101.65/78 (10 & 5-DMA). A break above the last, the major could test 102 (round number). While to the downside, the immediate support is seen at 101 (psychological levels) and below that at 100.84 (Aug 5 low).