The US greenback is trapped in a interval of value consolidation in opposition to the Japanese yen forex, forward of the discharge of right this moment’s CPI inflation quantity from the US. A bearish head and shoulders sample seems to be forming throughout the four-hour timeframe. Promoting any rallies again in direction of the 109.80 to 110.10 space in expectation of an eventual reversal decrease is a potential technique.
The USDJPY pair is just bullish whereas buying and selling above the 109.35 degree, key resistance is discovered on the 109.80 and 110.10 ranges.
The USDJPY pair is just bearish whereas buying and selling under the 109.35 degree, key help is discovered on the 109.00 and 108.55 ranges.