Overall, USD/JPY is trending downwards. Recently, USD/JPY bounced off the resistance zone of 114.200.

The Bank of Japan Core CPI y/y data (Actual: 0.9%, Forecast: 0.7%, Previous: 0.8%) released yesterday indicated a faster pace of inflation.

Currently, USD/JPY is trading towards the resistance zone of 114.200 and its next support zone is at 112.800.
If USD/JPY bounces off the resistance zone of 114.200, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).

Be sure to follow me on Twitter at @jdtai and on TradingView at Jin_LCMSTraders for my latest post!


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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