FxWirePro: USD/JPY consolidating around 147.40, room for further gains

 • USD/JPY inched higher on Monday as investors positioned cautiously ahead of a busy week featuring geopolitical developments and speeches from Federal Reserve officials.

•  Monday’s key event is a Trump–Zelenskiy meeting with European leaders, as Washington presses Ukraine toward a quick peace deal.

• Attention also turns to Jackson Hole this week, where Powell’s speech may offer fresh guidance on the U.S. economy and monetary policy.

• This week’s economic calendar is packed with market-moving events. In the U.S., focus will be on housing starts, the release of July FOMC minutes, weekly jobless claims, S&P flash PMIs, existing home sales, and remarks from Atlanta Fed President Raphael Bostic, which could offer fresh policy insights.

• Meanwhile, Japan will publish machinery orders, trade figures, PMIs, and the all-important CPI report on Friday, a key gauge for the Bank of Japan’s policy outlook.

• Immediate resistance is located at 147.86(SMA 20), any close above will push the pair towards 148.28(38.2%fib).

•  Support is seen at 145.72, (50%fib) and break below could take the pair towards  145.43(Lower BB).

Recommendation: Good to buy around 147.30, with stop loss of 145.45 and target price of 148.20