• USD/JPY holds above the 100 handle, but is largely rangebound in the Asian session.
   
• Data released earlier today showed Japanese flash manufacturing PMI release came in better than expected at 49.6 versus 49.3 expected. 
   
• A story carried by the Japanese press, the Nikkei, cited that, “Growing market speculation that the Japanese government will not intervene in the currency market any time soon" is threatening to remove what little downward pressure still remains on the yen.
   
• USD/JPY attempts a tepid bounce from session lows at 100.03, bulls are seen struggling to regain control.
   
• The pair has edged above 5-DMA at 100.18, but finds stiff resistance by 10-DMA at 100.69.
   
• Momentum studies are neutral, upside could gain traction only on break above 10-DMA at 100.69.
   
• On the downside strong trendline support is seen at 99.60, break below could accentuate weakness.
   
• Next in focus remains the US manufacturing PMI and housing data due later in the NA session.