Today, the USDJPY is approaching the critical level of 152.00, but it still encounters immediate resistance at 151.70.
If the inflation data shows a stronger performance, it could persuade the Federal Reserve to raise interest rates further in either their December or January meeting, with the aim of bringing inflation back to its target level. Consequently, this could bolster the US Dollar (USD) and serve as a positive catalyst for the USD/JPY pair.
However, it is important to consider additional factors, such as the release of the US Consumer Price Index (CPI) data later today, as well as Japan's preliminary Gross Domestic Product (GDP) on Wednesday. These upcoming events have the potential to provide clearer guidance for the future movements of the USD/JPY pair.
If the inflation data shows a stronger performance, it could persuade the Federal Reserve to raise interest rates further in either their December or January meeting, with the aim of bringing inflation back to its target level. Consequently, this could bolster the US Dollar (USD) and serve as a positive catalyst for the USD/JPY pair.
However, it is important to consider additional factors, such as the release of the US Consumer Price Index (CPI) data later today, as well as Japan's preliminary Gross Domestic Product (GDP) on Wednesday. These upcoming events have the potential to provide clearer guidance for the future movements of the USD/JPY pair.