USD/JPY: CPI Fundamentals Shape Trading Opportunities

FX:USDJPY   U.S. Dollar / Japanese Yen
Hey Traders, in today's trading session we are monitoring USDJPY for a buying opportunity around 149.800 zone, USDJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 149.800 support and resistance area. Additionally, the recent release of robust CPI data in the United States has contributed to the bullish sentiment surrounding the USD. The Consumer Price Index (CPI) figures surpassed expectations, indicating a potential uptick in inflationary pressures. This positive economic data has bolstered the strength of the USD, consequently impacting currency pairs like USD/JPY. Trade safe, Joe.

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