USD/JPY Slides Near Seven-Month Low Ahead of US Inflation Figures
The USD/JPY pair continues to trade near its seven-month low as traders await US inflation figures. Despite minor price fluctuations, the technical setup suggests a bearish bias for the currency pair.
The recent breakdown below the 155.30-155.20 support level was seen as a key trigger for bearish traders, with the area coinciding with the 38.2% Fibonacci retracement level of the April 2025-July 2026 rally.
A more hawkish Bank of Japan repricing is expected to continue acting as a tailwind for the Japanese Yen and cap spot prices.