• USD/JPY initially gained but gave up ground as investors digested Japan’s CPI data.
• Japan's core inflation reached 3.0% in February, while an index excluding fuel costs rose at its fastest pace in nearly a year, signaling broadening price pressures..
• The data followed BOJ Governor Kazuo Ueda’s warning after the central bank’s decision to keep interest rates unchanged on Wednesday, highlighting concerns over inflation trends and future policy adjustments.
• At GMT 12.06,the dollar was up 0.06% at 148.86 against Japanese yen .
• Immediate resistance is located at 149.82 (38.2%fib), any close above will push the pair towards 150.43(Higher BB).
• Support is seen at 148.11(23.6%fib) and break below could take the pair towards 147.19(Lower BB ).
Recommendation: Good to sell around 149.50, with stop loss of 150.50 and target price of 148.80
