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Yen eases as USD/JPY holds gains ahead of Tokyo CPI

USD/JPY was around 159.40, supported by a firmer US dollar, while traders look to Thursday's Tokyo inflation data.

Reported · Written up by our desk · Major Pairs

USD/JPY is trading around 159.40 on Wednesday, holding modest gains as a firmer US dollar keeps the pair underpinned, according to FXStreet.

The yen's near-term focus is Tokyo's August inflation report due on Thursday, with both the headline CPI and the measure excluding food and energy expected to hold around 2.0% year on year.

FXStreet also linked the yen's softer demand for safe havens to reports of a US-Iran ceasefire that would reopen the Strait of Hormuz, which trimmed traditional haven interest and weighed on gold and yen appeal.

From a technical perspective, USD/JPY is supported by levels around 159.16 to 159.26, with resistance near 159.37 and 159.43, while RSI near 56 suggests steady upward momentum without signaling overbought conditions.

Latest closeGold $4,666.20 ▲0.6%|USD/JPY 159.15 ▼0.1%

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