Today, being Easter Monday, many countries are observing a holiday, resulting in fewer market participants and an expected wait-and-see mood. The USD/JPY is anticipated to hover around the 151 yen level.
The movement centered around the 151 yen level for USD/JPY is expected to continue. There might be some activity from the U.S. participants after the Easter holiday, but with Europe still on holiday and many participants likely taking a break for Easter, a full resumption of the markets is more likely on Tuesday.
The mood is also expected to be cautious for the Euro/Dollar and other currencies.
Attention is on the movement of the U.S. dollar following the release of the March ISM Manufacturing PMI. With trading volumes reduced, a result significantly different from expectations could lead to substantial price movements.
