Chart - Courtesy Trading View
USD/JPY was trading rangebound at 137.65, after closing 0.79% higher in the previous session.
Cautious mood seen among traders ahead of the release of US Consumer Price Index (CPI) data for November.
US CPI is expected at 7.3% YoY versus 7.7% prior. US consumer inflation figures will play a key role in driving the US Dollar demand ahead of FOMC meeting.
Mixed concerns surrounding the Bank of Japan’s (BOJ) next moves and sluggish US Treasury yields also keep the major rangebound.
The highly-anticipated FOMC monetary policy decision on Wednesday will determine the next leg of a directional move for the major.
Technical Analysis:
- USD/JPY has shown a decisive bounce off 200-DMA support
- MACD confirms a bullish crossover on signal line
- Price action has retraced above 200H MA
- GMMA indicator shows bullish shift on the intraday charts
Major Support Levels: 137 (5-DMA), 136.33 (200H MA)
Major Resistance Levels: 138.62 (21-EMA), 139.49 (110-EMA)
Summary: USD/JPY poised for further upside. Weakness only below 200-DMA.


FxWirePro- Major Crypto levels and bias summary
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: USD/JPY edges higher but bulls lack punch
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data
NZDJPY Dips to 95.10: Bulls Buy the Pullback as Key 93.50 Support Keeps Uptrend Intact
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro- Major Pair levels and bias summary
BTC Craters Below All Key EMAs: $2.63B ETF Selloff Triggers 'Sell on Rallies' to $67K
FxWirePro- Major Crypto levels and bias summary 



