Investing.com - The dollar strengthened against the yen on Monday amid technical buying and on sentiment that the yen's weakening trend was due for a breather.
In Asian trading on Monday, USD/JPY hit 81.24, up 0.04% and up from a low of 80.99 and a high of 81.67.
The pair sought to test support at 79.74, Friday's low, and resistance at 81.67, the earlier session high.
The Bank of Japan has said it would allocate JPY10 trillion to an asset-purchasing program and establish inflation goals as a move to weaken the currency.
The move has worked, sending the yen falling against the greenback.
However, the yen corrected its downward trend early Monday, supported by technical buying.
The yen, meanwhile, was up against the Australian dollar and down against the euro, with AUD/JPY losing 0.10% to 86.76 and EUR/JPY up 0.03% at 109.25.
Later Monday, the U.S. is to publish industry data on pending home sales, a leading indicator of economic health.
Japan is due to release retail sales data.
In Asian trading on Monday, USD/JPY hit 81.24, up 0.04% and up from a low of 80.99 and a high of 81.67.
The pair sought to test support at 79.74, Friday's low, and resistance at 81.67, the earlier session high.
The Bank of Japan has said it would allocate JPY10 trillion to an asset-purchasing program and establish inflation goals as a move to weaken the currency.
The move has worked, sending the yen falling against the greenback.
However, the yen corrected its downward trend early Monday, supported by technical buying.
The yen, meanwhile, was up against the Australian dollar and down against the euro, with AUD/JPY losing 0.10% to 86.76 and EUR/JPY up 0.03% at 109.25.
Later Monday, the U.S. is to publish industry data on pending home sales, a leading indicator of economic health.
Japan is due to release retail sales data.