The USD/JPY climbed during the North American session after inflation data in the United States (US) showed that prices on the producer side edged higher than expected.
USD/JPY up 0.17% driven by US producer price data suggesting potential for sustained high Fed rates. Technicals: Six days of gains, with strong upward momentum above the Ichimoku Cloud. Resistance at 157.00, then May 1 high of 157.98 and April 26 high of 158.44. Support at 156.00, 155.90 , and 155.10 . The USD/JPY climbed during the North American session after inflation data in the United States showed that prices on the producer side edged higher than expected.
00 figure, that could open the door to challenging the May 1 high at 157.98. Once surpassed, key resistance levels emerge, like Apri’s26 high at 158.44, followed by the April 29 high of 160.22. On the other hand, if sellers drag prices below 156.00, further losses lie below. The next support would be the Kijun-Sen at 155.90. Should the pair extend its downtrend, the next demand area emerges at the Senkou Span A at 155.10 before sellers challenge the Tenkan-Sen at 154.31.
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