The USD/JPY pair is trading near a seven-week high, supported by a stronger US Dollar and expectations for a less aggressive Federal Reserve (Fed) monetary policy stance.

Key Factors:

• US Dollar Strength: The US Dollar Index (DXY) has reached a seven-week high, indicating a strong US Dollar.
• Fed Rate Expectations: While the Fed is expected to cut interest rates further, the market is pricing in a smaller 25 basis point cut in November.
• Economic Data: The upcoming release of the US Consumer Price Index (CPI) and Japan’s Producer Price Index (PPI) will provide insights into inflation and economic conditions.

Technical Analysis:

• Upward Trend: The USD/JPY pair is in an upward trend, with potential for further gains.
• Resistance Levels: The 102.80 level is a key resistance level, with potential for further upside if it is broken.
• Support Levels: Potential support levels are at 102.03, 100.62, 100.16, and 99.58.

Overall Outlook:

The USD/JPY pair is likely to remain volatile, influenced by economic data, Fed policy, and market sentiment. Traders should monitor technical indicators for signs of a trend reversal.