• USD/JPY extends range trade for a second consecutive day, daily price action is slipping along a falling channel.
   
• Yen fails to benefit from a risk-on rally in the equity markets, USD/JPY edges lower from session highs at 102.58 to currently trade at 102.20 levels.
   
• Intraday bias is lower, RSI, Stochastics on daily charts point south and MACD is well below the zero mark.
   
• Data released earlier today showed China Caxin services PMI for June printed at 52.7, rising from 51.2 in the previous month.
   
• Upbeat Chineses data could keep demand for the Yen subdued, scope biulds for test of 100 levels (channel base).
   
• Pair finds immediate support at 101.55 (June 28th lows), while immediate resistance on the upside aligns at 102.63 (5-DMA).