- USD/JPY trades range bound for the third consecutive day, in consolidation mode above 124 levels
- The pair is currently trading at 124.38 with a high of 124.57 and a low of 124.43, remains supported by 21 DMA at 124.19 despite recent attempts below
- Topside seen capped by the 200 HMA & daily Tenkan at 124.54, break above could see 124.63
- Option expirations – 123.95-124.05 USD708 mln, 124.50 415 mln, 125.00 334 mln
- Markets await U.S. CPI data and the FOMC minutes for next potential source of impetus for the major
Resistance Levels:R1: 124.54 (Tenkan)R2: 124.63 (Daily High Aug 13)R3: 125.28 (Daily High Aug 12)Support levels:S1: 124.19 (21 DMA)S2: 124.10 (Kijun-Sen)S3: 124.06 (Daily Low Aug 14)
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