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FxWirePro: USD/JPY remains within a narrow range as attention shifts to upcoming U.S. PCE data

• USD/JPY saw a modest dip on Friday, with the decline constrained as investors looked ahead to the upcoming U.S. PCE data for clearer direction.

 • The release of the U.S. core personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation, as well as a reading on euro zone inflation take centre stage later on Friday.

•At GMT 07:55, the pair was trading down 0.04 percent  at 144.92 after reaching daily high at 145.20

• Technical signals are bearish as RSI is heading down  at 33, daily momentum studies  5, 9 and 11 DMAs are trending down.
 
• Immediate resistance is located at 145.64 (Daily high), any close above will push the pair towards 146.76 (38.2%fib).

•  Support is seen at 143.80 (23.6%fib) and break below could take the pair towards 143.10 (Lower BB).

 Recommendation: Be on sidelines

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