The USD/JPY pair is showing little movement as traders respond to Japan’s latest inflation data. In March, the inflation rate was at 2.7%, but it dropped to 2.5% in April. Similarly, the core inflation rate decreased from 2.6% to 2.2%.
If the USD/JPY pair manages to surpass the 157.00 level, it could potentially reach the key resistance zone between 158.00 and 158.50. However, traders are likely to proceed with caution as the Bank of Japan (BoJ) may step in to support the Japanese yen.
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