• USD/JPY saw a modest dip on Friday, with the decline constrained as investors looked ahead to the upcoming U.S. PCE data for clearer direction.
• The release of the U.S. core personal consumption expenditures (PCE) price index, the Fed's preferred measure of inflation, as well as a reading on euro zone inflation take centre stage later on Friday.
•At GMT 07:55, the pair was trading down 0.04 percent at 144.92 after reaching daily high at 145.20
• Technical signals are bearish as RSI is heading down at 33, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 145.64 (Daily high), any close above will push the pair towards 146.76 (38.2%fib).
• Support is seen at 143.80 (23.6%fib) and break below could take the pair towards 143.10 (Lower BB).
Recommendation: Be on sidelines
