The USD/JPY direction has turned somewhat bullish in recent days as improving risk appetite and optimism over US-China trade talks lifted the dollar and pressurized the safe-haven yen.
The pair held firm above key support at 142.50, with sentiment-driven flows favoring the greenback. This week’s focus shifts to key US data releases—CPI on Wednesday and UoM Consumer Sentiment on Friday—which could influence Fed policy expectations and the USD’s trajectory.
A stronger dollar, supported by macro data and fading trade tensions, may push USD/JPY higher, especially as global equities rally and investor confidence improves.
Short-term resistance is seen around the 145.00 handle. The next upside targets are at 146.00, and then 148.00.
All bullish bets would be off, however, should support at 142.50 give way eventually. At the time of writing price was testing interim support around 144.00.
By Fawad Razaqzada, market analyst with FOREX.com
The pair held firm above key support at 142.50, with sentiment-driven flows favoring the greenback. This week’s focus shifts to key US data releases—CPI on Wednesday and UoM Consumer Sentiment on Friday—which could influence Fed policy expectations and the USD’s trajectory.
A stronger dollar, supported by macro data and fading trade tensions, may push USD/JPY higher, especially as global equities rally and investor confidence improves.
Short-term resistance is seen around the 145.00 handle. The next upside targets are at 146.00, and then 148.00.
All bullish bets would be off, however, should support at 142.50 give way eventually. At the time of writing price was testing interim support around 144.00.
By Fawad Razaqzada, market analyst with FOREX.com
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