After experiencing a sharp decline against all of its major counterparts on Friday, the JPY now appears to be regaining strength in today's early trading hours. So far the Yen has climbed 185 pips against the British Pound and is currently trading at the 135.15 price mark. Against the USD the JPY currently sits just above the 90.00 price level but appears to be facing a significant support line at that price.
With a number of machinery and industrial figures being published by the Bank of Japan (BOJ) today, there is a chance that the JPY will witness a higher-than-usual level of volatility in trading later in the afternoon. Significant price barriers are being touched on almost every JPY pair. If a breach occurs, the JPY could jump to completely pare the losses made last Friday. But if the JPY cannot gain the necessary momentum, there could be a downturn on the way.