USD/JPY Caught in Wedge Before CPI Release

USD/JPY Technical Analysis – Falling Wedge

The 4-hour chart for USD/JPY shows that the pair is trading within a falling wedge pattern and is seeking its next direction. The price is currently range-bound between $141 and $149.50, which marks the boundaries of the pattern. The upcoming inflation data release on Thursday is expected to provide further direction for USD/JPY.