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• USD/JPY rose on Tuesday as dollar strengthened as investors focused on key U.S. inflation data later this week for further clues on the Federal Reserve's policy direction..
•The Consumer Price Index (CPI) due on Wednesday could provide insights into how much room policymakers have for potential easing next year.
•Traders now see a 90% probability of a 25-basis-point rate cut next week, according to the CME FedWatch tool, a sharp increase from 73% last week.
• At GMT 11:18 the dollar was up 0.32 % at 151.70 against Japanese Yen .
• Immediate resistance is located at 152.17 (23.6%fib), any close above will push the pair towards 153.41(Nov 27th high).
• Support is seen at 149.97 (38.2%fib) and break below could take the pair towards 148.28 (50%fib).
Recommendation: Good to buy around 151.50, with stop loss of 150.70 and target price of 152.50
