FundamentalOverviewThe USD regained someground in the final part of last week although we haven’t got any meaningful catalystfor the move. Overall, we continue to range as the market is waiting forsomething new for the next sustained trend. Given that the “short US dollar” isnow the most crowded trade, it will take something meaningful to lead themarket to expect more rate cuts than currently priced in. On the JPY side, the Tokyo CPI figures last week came out lowerthan expected and didn’t help the JPY as a rate hike by year-end got alreadypriced in after the US-Japan trade deal. For more appreciation we will likelyneed weak US data to increase the dovish bets on the Fed or higher inflationfigures for Japan to price in more rate hikes than currently expected. Keep an eye on thepolitical shifts as news of more fiscal support will lead the market to expectstronger economic activity and therefore higher chances of more rate hikes.This week we have also the BoJ and FOMC decisions and deviations from theexpectations could trigger some nice moves.USDJPYTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that USDJPY is now approaching again the key 148.30 resistance. The sellers will likely step inaround the resistance with a defined risk above it to position for a drop back intothe 142.35 support. The buyers, on the other hand, will look for a break higherto increase the bullish bets into the 151.20 resistance next. USDJPY TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have a minor support zone around the 147.00 handle. If the pricegets there, we can expect the buyers to step in with a defined risk below thesupport to position for a rally back into the resistance targeting a breakout.The sellers, on the other hand, will look for a break lower to increase thebearish bets into the 142.35 level next.USDJPY TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have an upward trendline defining the bullish momentum on thistimeframe. The buyers will likely continue to lean on the trendline with adefined risk below it to keep targeting new highs, while the sellers will lookfor a break lower to target the 147.00 support and new lows. The red lines define the average daily range for today.UpcomingCatalystsTomorrow we have the get US Job Openings andConsumer Confidence data. On Wednesday, we have the US ADP, the US Q2 GDP andthe FOMC rate decision. On Thursday, we have the BoJ rate decision, the US PCEprice index, the US Jobless Claims and the US Employment Cost Index. Finally,on Friday, we conclude the week with the US NFP report and the US ISM ManufacturingPMI. Watch the video below This article was written by Giuseppe Dellamotta at investinglive.com.