USD/JPY chart - Trading View
USD/JPY was trading 0.17% lower on the day at 106.72 at around 04:15 GMT, technical bias remains bullish.
US inflation data printed upbeat figures. U.S. consumer prices rose 0.6 percent sequentially in July, matching June’s rise and above market expectations.
More surprising was a 0.6 percent sequential rise in core inflation in July. Core inflation on a year-on-year basis rose to 1.6 percent, up from 1.2 percent in June.
The upbeat performance of Japanese PPI exerts additional downside pressure. Japan’s July PPI grew past-0.3% forecast on MoM to 0.6%. Further, the yearly figures slipped less than -1.1% expected level to -0.9%.
Republicans and Democrats remain deadlocked over additional stimulus for the US economy on Wednesday.
Technical bias for the pair remains bullish. Bulls target next hurdle at 110-EMA at 107.24.
Markets focus on risk catalysts concerning the US stimulus, Sino-American tussle and COIVD-19 for fresh impulse.
