Last Friday price retraced back to 124.00. We are still in an uptrend looking daily chart.

usdjpy

Yesterday support at 124 was respected and price went up again. Now at 125.00 there are two options, (1) that we will break 125 and head up to test previous high on the left at 125.85. Other option (2) is that 125.00 will act as a strong resistance and it will be rejected, so that price will fall back down to 124.00.
Regarding news, not much will happen this week. Red color news today in US is Prelim Unit Labor Costs q/q in Japan nothing too important.

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