FxWirePro: USD/JPY edges higher but bulls lack punch

• USD/JPY edged higher  as renewed optimism surrounding the Israel-Iran ceasefire lifted  risk appetite reduced demand for safe-haven assets.
 
• The fragile ceasefire has largely held for now, though tensions remain elevated, with Israel warning of a strong response to recent Iranian missile attacks that followed U.S. President Donald Trump's declaration of an end to hostilities.

• With a relatively quiet domestic economic calendar, investor attention is expected to remain centered on developments surrounding the Israel-Iran ceasefire.

• Data released on Wednesday showed Japan’s service-sector inflation indicator climbed to 3.3% in May, a rise that has strengthened expectations of further interest rate hikes by the Bank of Japan as price pressures persist in the economy.

• At  GMT 07:44   dollar was trading at up  0.22% at 145.25 against the U.S. dollar. 

• Key resistance levels: 146.20 (June 26th high), 146.78 (Upper Bollinger Band), and 148.11 (50%fib).

• Support levels: 144.62 (38.2%fib), 142.79 (June 13th low), and  142.38 (Lower BB).

Recommendation: Be on  side lines