USD/JPY chart - Trading View
USD/JPY was trading unchanged at 110.62 at around 09:00 GMT, intraday bias is neutral.
Growing speculations that the Fed will tighten its monetary policy earlier if price pressures continue to intensify, keeps the dollar supported.
Major trend in the pair is bullish, however, overbought conditions and bearish divergence likely to cause some retracement in price.
The pair is grinding lower for the 4th straight session and is trading below 5-DMA which caps upside at 110.75.
RSI is biased lower and MACD is on verge of bearish crossover on signal line. Scope for test of 21-EMA at 110.17.
US bond yields and the broader market risk sentiment will be watched for short-term trading opportunities.
Focus also on the US Consumer Confidence and housing data which could provide fresh trading impulse.
