The USD/JPY pair is continuing to build on its gains for the week and is gradually approaching the significant psychological level of 145.00 during the Asian session. This brings it closer to the peak seen earlier this year in June. However, this upward movement lacks strong bullish confidence, as traders are cautious, anticipating possible intervention by Japanese authorities.

During the Asian session, the USD/JPY pair reached a new high for the month at 144.91 following the release of US inflation data for July. The US Consumer Price Index (CPI) showed growth at a rate of 0.2% for July, which aligns with market expectations.

Want to find a user-friendly trading platform?

Try out now with VCPlus: https://bit.ly/3zIdlEM