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USDJPY sits on support ahead of US CPI data
USDJPY remains range-bound around its 20-day simple moving average (SMA) for the sixth consecutive trading day as investors eagerly wait for September’s US CPI inflation report due at 12:30 GMT. Despite the resilience in the price, the RSI and the MACD cannot warrant a bullish reversal. The former, although above 50, keeps trending southwards, while the latter is also decelerating below its red signal line. Furthermore, the candlestick arrangement at the uptrend's high resembles a bearish hanging man pattern, suggesting an upcoming market downturn. If the floor around the 20-day SMA at 148.75 collapses, the pair ... (full story)