FxWirePro: GBP/AUD under pressure as pound continues to weaken 
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks 
FxWirePro: USD/CAD edges lower but bullish outlook persists 
FxWirePro: USD/CNY edges higher but bulls lack punch 
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish 
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise 
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level 
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97 
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral 
Chart - Courtesy Trading View
USD/JPY was trading 1.08% lower on the day at 131.04 at around 09:55 GMT. Outlook has turned bearish after rejection at 21-EMA.
The greenback sold off ahead of the key US Consumer Price Index (CPI) data, due later in the day at 13:30 GMT.
Traders reluctant to place any aggressive bets ahead of US CPI report. Rising expectations for smaller Fed rate hikes act as a headwind for the USD .
A slowdown in the US wage growth pointed to easing inflationary pressure. Today's release of the US CPI report will influence the Fed's rate hike path.
According to CME Group’s FedWatch Tool, a 25 bps rate hike at the Fed’s next event on February 1 looks the most likely scenario.
Major Support Levels:
S1: 129.50 (Jan 03 low)
S2: 128.77 (Lower W BB)
Major Resistance Levels:
R1: 131.94 (5-DMA)
R2: 133.20 (21-EMA)
Summary: USD/JPY trades with a bearish technical bias. More downside on cards, test of fresh monthly lows likely.
