USD/JPY Analysis Today 15/8: Impact Of US Data (Chart)

(MENAFN- Daily Forex) On Wednesday, the USD/JPY currency pair exhibited volatile behavior. After rebounding towards the resistance level of 147.57, it retreated to 146.67 following the release of US inflation data, before stabilizing around 147.18 at the beginning of trading on Thursday to reliable trading platforms, the Japanese yen strengthened, recovering from its lowest levels in over a week due to the weakening US dollar was triggered by cooler-than-expected US inflation data, which bolstered bets on more aggressive interest rate cuts by the federal Reserve latest figures raised hopes that the upcoming US consumer inflation figures would indicate more signs of easing price growth in the world\u0026#39;s largest economy the domestic front, investors digested the latest Reuters Tankan survey, which showed that business sentiment among manufacturers weakened slightly in August due to weak demand from China. Also, traders continued to assess the Bank of Japan\u0026#39;s monetary policy outlook amid recent market volatility and the unwinding of yen-carry trades. Likewise, a former Bank of Japan official had indicated that the central bank would not be able to raise interest rates again this year due to financial market turmoil, Japanese Prime Minister Fumio Kishida reportedly will not seek re-election as party leader in September the stock trading platforms, US stock indices ended Wednesday\u0026rsquo;s trading in positive territory, as traders assessed the latest US consumer price index data. According to trading, the S\u0026amp;P 500 index rose 0.4%, recording its fifth consecutive gain, the Dow Jones index advanced 242 points, while the Nasdaq closed slightly higher to the economic calendar, US consumer price index data revealed a 2.9% year-on-year increase in consumer prices for July, marking the first time since 2021 that headline inflation has fallen below 3%. The data reassured investors and raised speculation that the Federal Reserve could start cutting US interest rates as early as next month to trading, financials and energy stocks outperformed, while telecommunications services stocks lagged, led by a 2.3% drop in Alphabet shares after a report indicated that the US Department of Justice is considering options, including a potential breakup of the company. Furthermore, among other large-cap stocks, Apple Inc. rose 0.2%, its sixth straight day of gains and its longest winning streak since early July. Nvidia added 1.6% and Broadcom rose 1%. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });USD/JPY Technical Analysis and Expectations TodayBased on the daily chart attached, USD/JPY is in a neutral position with a downward bias and bulls will strengthen their grip on the overall trend if it moves towards the resistance levels of 149.60 and 150.70, respectively. The performance of the dollar/yen will remain cautious for any signals from global central bank officials and the extent of investors\u0026rsquo; appetite for risk, in addition to anticipating the results of US economic data, retail sales, the number of weekly jobless claims. Also, the reading of the Philadelphia manufacturing index, in addition to statements by some members of the US central bank policy officials.

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