Today, traders also had a chance to take a look at Japan’s inflation data. Inflation Rate remained unchanged at 1.9% in August, while analysts expected that it would rise to 2.1%. Core Inflation Rate decreased from 1.8% to 1.7%, compared to analyst forecast of 1.8%. Inlation data served as an additional bearish catalyst for the yen.

If USD/JPY moves above the resistance at 158.00 – 158.50, it will head towards the resistance level at 160.00 – 160.50. On the support side, a move below the 156.50 level will open the way to the test of the support at 155.00 – 155.50.

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