• USD/JPY edged higher on Thursday but gains were limited as markets focussed labour market and inflation data out of the U.S.
•The second estimate of U.S. Q2 GDP and weekly jobless claims are likely to generate volatility on Thursday.
•On Friday, personal income, personal consumption expenditures, and the key PCE price index will be released.
• 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 145.75 (50%fib), any close above will push the pair towards 146.00 (Psychological level).
• Support is seen at 144.01 (38.2%fib) and break below could take the pair towards 142.29 (Lower BB).
Recommendation: Be on sidelines
