The U.S. dollar is likely to move in a narrow range against the yen this week in trading expected to lack a strong sense of direction.
"There aren't many factors to focus on except the European Central Bank meeting. Attention is likely to wander from dollar-yen trading," said Hideyuki Tsukamoto, a foreign exchange manager at Fuji Bank.
Many dealers said they expect the dollar to trade between 118 yen and 121 yen, with a few saying they foresee a drop to the 117 yen level.
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