USDJPY

The USD/JPY pair recovered some of its losses near 154.45 in the early Asian session on Thursday. Softer US CPI inflation data put some selling pressure on the US Dollar (USD). However, the major pair recovered modestly after weaker-than-expected Japanese Gross Domestic Product (GDP) in the first quarter of 2024. The daily loss for the pair, which closed at 153.99 the previous trading day, was 0.58%. The RSI indicator for the pair, which is below its 20-day moving average, is at 47.34, while its momentum is at 97.60. Intraday upside movements can be followed at 154.17. If this level is passed, resistance levels of 154.73, 155.47 and 156.04 may become important. In case of possible pullbacks, support levels of 153.42, 152.86 and 152.11 will be monitored. Support: 153.420 - 152.860 Resistance: 154.730 - 155.470