• USD/JPY rebounded from eight month low on Thursday after data showed U.S. inflation surprised slightly on the upside.
• U.S. data showed that the core consumer price index (CPI) increased by 0.28% in August, surpassing the forecasted rise of 0.2%..
• Data was sufficient for markets to nearly rule out the possibility of a half-point rate cut by the Federal Reserve next week.
• Immediate resistance is located at 143.71 (38.2%fib), any close above will push the pair towards 144.00 (Psychological level).
• Support is seen at 141.19 (23.6%fib) and break below could take the pair towards 140.66 (Lower BB).
Recommendation: Good to buy around 142.60, with stop loss of 141.80 and target price of 143.50
