• USD/JPY edged lower on Thursday as traders awaited economic data that may outline the impact of tariffs and the outlook for rates.
• Focus turns to U.S. economic data, including Thursday’s Q2 GDP final and Friday’s PCE inflation report, the Fed’s preferred gauge.
• Investors are closely watching for signs of the economic impact from the broad tariffs implemented by U.S. President Donald Trump, which have disrupted the global trade landscape..
•Meanwhile, investors are also watching who will succeed Japan’s next prime minister after Shigeru Ishiba announced his resignation earlier this month..
• Immediate resistance is located at 149.31(Higher BB), any close above will push the pair towards 150.00(Psychological level).
• Support is seen at 148.30(38.2%fib) and break below could take the pair towards 146.68(SMA 20).
Recommendation: Good to buy around 148.60, with stop loss of 148.00 and target price of 149.50
