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- USD/JPY trades modestly flat at 124.45, extends range trade for the second consecutive day
- Markets await U.S. housing starts and building permits data due later tonight and in the week ahead for further direction
- Meanwhile divergent monetary policy outlooks between both the country's central banks likely to keep the pair supported
- Immediate resistance for the pair is seen at 124.63 (Daily High Aug 13) followed by 125.28 (Daily High Aug 12)
- On the downside supports are located at 125.28 (Daily High Aug 12) and then 124.06 (Daily Low Aug 14)
Resistance Levels:
R1: 124.63 (Daily High Aug 13)
R2: 125.28 (Daily High Aug 12)
R3: 125.60 (Hourly High Jun 8)
Support Levels:
S1: 124.19 (21 DMA)
S2: 124.06 (Daily Low Aug 14)
S3: 123.79 (Daily Low Aug 12)
