USDJPY Technical Analysis – We are trading around a key support zone ...Middle East

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USDJPY Technical Analysis – We are trading around a key support zone
Fundamental OverviewWe continue to see a pullback in the US Dollar as the market kind of reached the peak in the repricing of interest rates expectations and it will need stronger reasons to price out the remaining rate cuts for 2025.This was signalled by the lack of US Dollar strength after lots of strong US data with the market’s pricing remaining largely unchanged around three rate cuts by the end of 2025. We might see the greenback remaining on the backfoot at least until the US CPI due in two weeks.On the JPY side, the market is pricing a 56% chance of a rate hike in December and a total of 48 bps of tightening by the end of 2025. Tomorrow, we get the Tokyo CPI data and an upside surpri

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