From Investing.com: 2024-07-26 05:58:00

The rally for USD/JPY has paused, with the pair trading at 154.34 in the European session, up 0.30% on the day. Despite a strong US jobs report, the yen is up 1.9% for the week. Tokyo Core CPI in July rose to 2.2% y/y, the highest level since March, driven by higher electricity prices. The Bank of Japan faces a decision on policy at its upcoming meeting, with arguments for both maintaining rates and hiking. Later today, the US will release the Core PCE Price Index, expected to rise 0.1% m/m and ease to 2.5% y/y. Technicals show USD/JPY testing resistance at 154.39.



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