FX.co ★ remington.kihn | USD/JPY

The decline in the US consumer price index is helping the Japanese administration avoid a new wave of burdensome currency intervention. Despite Waller’s statements, aimed at neutralizing the effect of easing inflationary pressure on the US economy, traders are skeptical about a possible tightening of the Fed’s monetary policy. This already smells like a rate cut. If such sentiment worsens, or at least persists, the USD/JPY pair gets a real chance to finally move on to developing a reversal pattern. For now, it remains in the accumulation zone of 161.72 (Murray 7.8) - 162.50 (Murray 8.8). Moreover, the price is above the H4 Kijun line and the base of the 162nd figure, where the Tenkan line runs. But this in no way indicates that the pair is ready to visit even the upper boundary of this zone, let alone break through it.