US inflation data this week will guide expectations for the interest rate outlook by the Fed. It is important l to track the interest rates as they will also define the direction for the USD.
Technically speaking, we see US 10-Year notes coming above the falling trendline, so there can be some more strength coming, and ideally, this can bring down USD/JPY, which is seen in a bearish triangle.
We are tracking this sideways A-B-C-D-E consolidation in wave B, so when key support at 145 is broken, the pair can see a drop to 140.35-142.