• USD/JPY held steady around 155.30 on Wednesday as traders awaited U.S. inflation data and trade updates.
• Investors are waiting for January U.S. CPI data and Jerome Powell's second day of testimony for clues on the Fed's monetary policy outlook.
• Investors are also watching U.S. President Trump's tariff plans, including reciprocal tariffs on countries that impose duties on U.S. imports..
• At GMT 11:31, the pair was trading up 0.68 % at 153.51 .
• Technical signals are strongly bullish as RSI is at 64, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 153.73 (38.2%fib), any close above will push the pair towards 155.58 (Feb 4th high).
• Support is seen at 152.33 (Daily low) and break below could take the pair towards 150.96 (50%fib)
Recommendation: Good to buy around 153.20, with stop loss of 152.50 and target price of 154.00
