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USD/JPY consolidates in a higher range

FXStreet (Córdoba) - USD/JPY is consolidating in a higher range at the beginning of the American session after above forecast US CPI lifted the dollar.

USD/JPY regained the 107 mark and reached a high of 107.33 before losing momentum and steadying just below. At time of writing, USD/JPY is trading at the 107.20 zone, recording a 0.21% gain so far Wednesday.

In terms of data, there are no other releases on the US calendar today, while Japanese manufacturing PMI is scheduled for next Asian session.

USD/JPY technical levels

As for technical levels, USD/JPY could find next resistances at 107.33/38 (intraday high/Oct 20 high), 107.49 (Oct 15 high) and 107.93 (20-day SMA). On the other hand, supports are seen at 106.78 (intraday low), 106.24 (Oct 21 low) and 106.12 (Oct 17 low) ahead of 106.00 (psychological level).

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