Investing.com - The dollar edged lower against the yen on Monday after investors sold the greenback for profits after applauding last week''s robust jobs report and jumped for the sidelines amid U.S. monetary policy uncertainty.
In U.S. trading, USD/JPY was down 0.23% and trading at 101.84, up from a session low of 101.82 and off a high of 102.21.
The pair was expected to test support at 101.24, the low from July 1, and resistance at 102.27, Thursday''s high.
The dollar firmed after the Department of Labor reported last week that non-farm payrolls rose by 288,000 in June, easily surpassing expectations for an increase of 212,000.
However, by Monday trading after a holiday weekend in the U.S., profit takers wiped out the greenback''s advance.
Many investors jumped to the sidelines to await the release of the minutes from the Federal Reserve''s June policy meeting on Wednesday, which may hold clues concerning the direction of monetary policy.
Goldman Sachs said it expected the Fed to raise interest rates in the third quarter of 2015 as opposed to the first quarter of 2016 made in an earlier prediction, though uncertainty ahead of the release of the Fed minutes swayed investors away from the dollar.
The yen, meanwhile, was up against the euro and up against the pound, with EUR/JPY down 0.14% at 138.56, and GBP/JPY trading down 0.40% at 174.46.
Official data showed that German industrial output fell 1.8% in May, the third consecutive monthly decline, defying market calls for a 0.2% expansion, which softened the single currency against the yen.