In today's trading session, our attention is on USDJPY, as we monitor a potential buying opportunity around the 147.500 zone. USDJPY, currently in an uptrend, is in a correction phase, approaching the trend at the 147.500 support and resistance area.
Adding a fundamental layer to our analysis, let's consider the recent Consumer Price Index (CPI) data. Examining the CPI figures from the past months, there has been a gradual decrease, with the most recent data showing a CPI of 3.4%, surpassing the forecasted 3.2% and slightly down from the previous month's 3.7%.
Now, let's connect this data to potential USD strength. A stable inflation environment can contribute to a stronger US dollar, as it signals economic stability and confidence. With the recent CPI figures, indicating a balance between inflation and expectations, there is potential for the USD to gain strength.
Traders looking to engage in USDJPY should keep an eye on both fundamental and technical aspects. As always, trade safe.
Thank you, the idea is interesting and there is a chance for success. The price may bounce from the local resistance and test the support, but further growth will continue due to the growth of the dollar, which has a positive fundamental background
The price may bounce from the local resistance and test the support, but further growth will continue due to the growth of the dollar, which has a positive fundamental background