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USD/JPY Trends: US Retail Sales in Focus
Later in the US session, US retail sales figures will be crucial amid rising recession fears. Economists forecast retail sales to rise 0.7% month-on-month (MoM) in February, following a 0.9% fall in January.
Higher-than-expected retail sales could temper June Fed rate cut bets, potentially driving the USD/JPY pair toward the 149.358 resistance level and possibly 150.
Another fall in sales may intensify speculation about a US recession, signaling a more dovish Fed rate path. In this scenario, the USD/JPY pair could drop toward the March 11 low of 146.537.
