US PCE inflation softens to 2.6% from a year ago vs. 2.8% expected<\/a><\/p>\nDeclining US inflation has weighed on the US Dollar this week, igniting a resurgence in investor expectations of an increased pace of rate cuts in 2024. Market rate cut expectations may have run far ahead of what the Fed considered feasible, however: the Fed\u2019s dot plot of interest rate expectations show a median forecast of 75 basis points in rate cuts through the end of 2024, but markets are currently pricing in bets of 160 basis points in cumulative rate cuts, with some particularly over-eager market participants betting on a rate cut as soon as next March.<\/p>\n
USD\/JPY Technical Outlook<\/h2>\n
The USD\/JPY set a new high for Friday at 142.66, stopping just short of the 50-hour Simple Moving Average (SMA) as the pair gets hung up on near-term resistance levels.<\/p>\n
Despite USD\/JPY\u2019s Friday rebound, the pair remains firmly bearish, with an unavoidable lower-highs pattern baked into the charts.<\/p>\n
The pair remains constrained at the 200-day SMA rising into the 143.00 handle, and the USD\/JPY is down over six percent from November\u2019s peak bids near 151.90.<\/p>\n
USD\/JPY Hourly Chart<\/h2>\n<\/p>\nUSD\/JPY Daily Chart<\/h2>\n
![\"\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_JPY-638388633090339579.png\")
<\/p>\n
USD\/JPY Technical Levels<\/h2>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Share: USD\/JPY sees late rally, jumps to 142.60. The US Dollar is paring back the day\u2019s losses as the Yen declines. US inflation continues to erode faster than expected. The USD\/JPY is rallying into new highs on Friday as the US Dollar (USD) tries to pare back some of the day\u2019s losses coupled with a […]<\/p>\n","protected":false},"author":2,"featured_media":12571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,257,255,388,250,252,247,253,249,275,256,254],"class_list":["post-217557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=217557"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217557\/revisions"}],"predecessor-version":[{"id":217559,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217557\/revisions\/217559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/12571"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=217557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=217557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=217557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}