In a quiet session amid intervention rumours, the USD/JPY has found support at 76.50 after sliding from today's highs at 76.80. The USD/JPY is trading in consolidation mode between 76.50 and 76.60 and posting 0.06% daily losses from opening price action.

Early today, UBS suggested that an intervention at 75.00 zone would be possible on the back of "the upbeat data in the US economy could push the US yields higher thus benefiting the cross," said M.Mohi-uddin, Managing Director of Foreign Exchange Strategy at UBS. "With Finance Minister Azumi raising his rhetoric over the week, we expect the authorities will act if USD/JPY tests 75.00 again", he finished.

"The USD/JPY pair traded in a narrow range of 76.55 to 76.68 in the US session," comments Tauane Sousa, Analyst for Tradervox.com. "Presently it is trading at 76.59, flat for the day. The support lies at 76.30 and resistance at 76.80 levels."

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