The USD/JPY climbed on Thursday, extending a bullish recovery for the pair. The US Dollar is inching towards the 150.00 level once again as the Greenback climbs on risk-off markets. US CPI inflation data beat has markets worried that the Fed will keep interest rates higher and longer than previously anticipated. from the Bank of Japan for FX market intervention in the past.
Friday's market session sees nothing from Japan on the economic calendar, and markets will be looking to close out the trading following a reading of the Michigan Consumer Sentiment Index for October, due at 14:00 GMT and expected to retreat slightly from 68.1 to 64.7. USD/JPY Technical Outlook The USD/JPY is hanging close to Thursday's highs of 149.83, just inches away from the 150.00 major handle. The pair is well-bid off the day's early lows near 148.95, and USD/JPY gained 0.
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USD/JPY Price Forecast: Yen Wary on US CPI ForecastsUSD/JPY looks to US CPI for help in terms of the Fed’s interest rate cycle moving forward, while Yen bulls keep a close eye on the 150 resistance level.
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