Chart - Courtesy Trading View
USD/JPY was trading unchanged at 132.00 at around 15:30 GMT, with session high at 132.65 and low at 131.30.
Market risk profile boosted as China reopens national borders after a three-year pause. While Friday's mixed data dragged the U.S. dollar down across the board.
Focus now on the U.S. consumer price index (CPI) data on Thursday, which is forecast to show annual inflation slowing to a 15-month low of 6.5% and the core rate dipping to 5.7%.
Markets have scaled back bets on Fed rate hikes after solid U.S. payroll gains and slower wage growth, along with a sharp fall in service-sector activity.
Fed fund futures now imply around a 25% chance of a 50 basis point hike in February, down from around 50% a month ago.
Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday will also be watched for clues.
Upside price action in USD/JPY was rejected at 21-EMA, Doji formation on the daily candle at the time of writing suggests indecision.
GMMA indicator shows major and minor trend in the pair are bearish. More weakness on cards. Next support lies at lower BB at 129.37.
