The USDJPY is approaching last week’s high of 143.88/144.10. This is also the highest level recorded since July 7. A break above would allow for a run towards 144.00. Traders will begin to seek above that for a swing area on the daily chart between 144.98 and 145.90.

Technical analysis

A daily close above the downward-sloping resistance line from late October 2022, close to 143.80 at press time, is required for USD/JPY buyers to maintain control.

  • USD/JPY made a modest gain as bulls hit a monthly high during the four-day rally.
  • Yields cut weekly losses ahead of US inflation data on mixed sentiment.
  • Japan’s July PPI against the BOJ’s pigeon concerns
  • The US CPI needs useful data to meet Fed policy changes.

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