USDJPY is at resistance now prior to the USD CPI data, which measures the change in prices across a representative basket of goods and services. The CPI data is a key economic indicator used to monitor inflation, and the Fed has lately expressed concerns around inflation. Technically the USDJPY has broken the ascending channel to the downside, and is now retesting the support trendline and zone as a resistance. Price is also at the fibonacci golden pocket resistance, and we anticipate downside into the 108.230 level.
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SL Moved to BE