USD/JPY: short-term technicals: bearish - Scotiabank

Analysts at Scotiabank noted and explained that the yen is the only major currency that is not registering a gain against the broadly weaker USD this morning. 

• EUR/JPY: testing key resistance here at 124.80 - FXStreet

Key Quotes:

"North Korea test fired a new, longer range missile Sunday and equity markets are mixed; investors seem unconcerned on both fronts, however, leaving USD/JPY little changed from Friday’s close. 

USD/JPY short-term technicals: bearish—Intraday price action looks negative; the USD has backed away from the high 113s in overnight trade, sustaining Friday’s break under short-term trend support. Near-term downside risks extend to the 112.90 area."