Analysts at Scotiabank explained that the broader market tone remains the most important near term risk for JPY, with no discernible response to the release of weaker labor cash earnings data. Key Quotes: "This week’s release schedule is relatively limited, leaving the focus squarely centered on sentiment. Options prices suggest a moderation in demand for near-term protection against JPY gains. Longer-term measures are steady." For more information, read our latest forex news.