USD/JPY well-bid overnight; 119.80 key intraday support

USD/JPY remains very well bid despite the overall weak Greenback. Overnight, flows were rather light and it is likely to stay quiet until the NY open, due to the UK bank holiday today. Dealers in Asia report that there are bids in good size at 119.80, while offers are stacked between 120.25 and 120.30. Stops noted through 120.40. Techs suggest further gains are likely in the near-term with 120.80 the next hurdle for bulls. USD/JPY is currently at 120.04.

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