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FxWirePro: USD/JPY consolidating around 144.70, room for further gains

• USD/JPY consolidated around 144.70 on Thursday as the dollar strengthened ahead of speeches from key Federal Reserve policymakers, looking for insights on the pace of interest rate cuts.

• On Thursday, Fed Chair Jerome Powell is set to give pre-recorded remarks at a conference in New York, where he will be joined by New York Fed President John Williams.

• Boston Fed President Susan Collins, along with Fed Governors Michelle Bowman and Lisa Cook, will also speak at various other venues.

• A daily close below 38.2%fib will further improve bullish outlook, and open the possibility of rally towards 146.00.
 
•  Immediate resistance is located at 145.29 (38.2%fib), any close above will push the pair towards 146.00 (Psychological level).

• Support is seen at 142.71 (23.6%fib) and break below could take the pair towards 141.81 (Sep 20th low).

Recommendation: Good to buy around 144.50, with stop loss of 143.50 and target price of 145.40

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