Chart - Courtesy Trading View
USD/JPY was trading 0.24% lower on the day at 130.51 at around 06:55 GMT.
The pair is consolidating previous week's gains, trades with a bullish bias.
The odds favoring the Fed’s 0.50% rate hike in September recently jumped to 75% versus 35% a week ago.
Focus now on this week’s US Consumer Price Index (CPI) data. Buyers turn cautious as any disappointment will dent the Fed rate hike expectations.
Technical indicators point to further gains in the pair. GMMA indicator shows major and minor trend are strongly bullish.
Pullback has bounced off 50-DMA support. Price action is above cloud and Chikou span is biased higher.
Major Support Levels:
S1: 130.00 (5-DMA)
S2: 128.75 (21-EMA)
Major Resistance Levels:
R1: 131.22 (Upper BB)
R2: 131.34 (May high)
Summary: USD/JPY poised for further gains. Scope for fresh yearly highs above 131.34 .


FxWirePro: EUR/AUD holds narrow range, focus on near-term Support
FxWirePro: USD/JPY upside capped as intervention risk limit upside
Pound Power Drives GBPJPY Past 214.50 — Buy-the-Dip Setup Targets 217
FxWirePro- Woodies pivot (Major)
BTC Craters Below All Key EMAs: $2.63B ETF Selloff Triggers 'Sell on Rallies' to $67K
FxWirePro: USD/JPY remains in familiar place on intervention threat
FxWirePro- Woodies pivot (Major)
ETH Cracks $2,000: $241M Institutional Exodus From Spot ETFs Sends Bears Hunting $1,700
ETH Cracks Below $2K: $241M ETF Selloff Sparks 14-Day Exodus as Bears Target $1,700
FxWirePro: USD/ZAR recovers some ground but outlook is bearish
Bitcoin Cracks Below $70K: ETF Bloodbath and Iran Tensions Spark Bearish Breakdown as Bears Eye $67K
FxWirePro: GBP/USD remains range-bound amid growing Middle East instability concerns
FxWirePro: AUD/USD eases amid uncertainty over the U.S.–Iran standoff
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key 



