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**Dollar/Yen:**

Narrow range: 95.67-96.24

Wide range: 95.30-96.99

The dollar/yen is expected to consolidate weakly. Market focus will be on the U.S. Institute for Supply Management's non-manufacturing index for June, scheduled for release at 1400 GMT. Factors weighing on dollar/yen include lingering risk aversion triggered by last Thursday’s disappointing U.S. non-farm payrolls data for June, which also spurred selling in yen crosses despite narrow trading ranges in European equities on Friday due to holiday closures in U.S. markets. Daily chart indicators for dollar/yen are mixed, with the MACD showing bearish signals while the stochastic oscillator remains neutral.

**Euro/Dollar:**

Narrow range: 1.3927-1.4027

Wide range: 1.3886-1.4201

The euro/dollar is expected to consolidate weakly. Downside factors include unwinding of euro-funded carry trades amid cooling risk appetite and weak Eurozone economic data: a 0.4% drop in retail sales in May (against expectations of a 0.2% decline) and a decline in the services PMI from 44.8 in May to 44.7 in June. However, downside for euro/dollar is limited as markets anticipate Swiss National Bank intervention via Swiss franc sales to weaken its exchange rate against the euro. The daily chart indicators for euro/dollar are bearish, with both the MACD and stochastic oscillators in negative territory.

**Pound/Dollar:**

Narrow range: 1.6230-1.6431

Wide range: 1.6206-1.6500

The pound/dollar is expected to consolidate with downside risks. Factors dragging the exchange rate include reduced investor risk appetite leading to flows toward the safe-haven U.S. dollar, and an unexpected decline in the UK’s Services Purchasing Managers' Index (PMI) for June, falling from 51.7 in May to 51.6 (against expectations of a rise to 52.5). The daily chart for pound/dollar shows bearish signals, with both the MACD and stochastic indicators pointing downward. Additionally, the 5-day moving average has formed a bearish crossover with the 15-day moving average.