USD/JPY PRICE ANALYSIS: BULLS EYE A RUN TO TEST 134.00 WITH EYES ON US CPI
- USD/JPY hourly chart shows that the price could still correct deeper into support.
- Eyes on the 38.2% Fibo of the latest bullish impùlse aligned with the 133.50s.
- Bull looks to 134.00 for the near-term upside target.
USD/JPY is at 133.60, up from 133.26 as of Tuesday's Tokyo stock market close but flat on the day so far. Traders are focusing on the US consumer inflation due later in the day, but the technicals are pointed to the upside as the following top-down analysis illustrates.
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