USDJPY in strong bearish acceleration ahead of US data

USDJPY

Strong bearish acceleration on Wednesday eventually broke below daily Kijun-sen (113.19) which kept the downside protected in past one week and extended weakness through next significant support at 112.95 (31 Oct trough).
Fresh bears also cracked support at 112.82 (Fibo 61.8% of 111.65/114.73 upleg), break of which would generate fresh bearish signal.
Top of weekly cloud (112.31) is coming in sight, with stronger bearish acceleration capable of traveling towards key short-term supports at 111.65/54 (16 Oct trough / daily cloud top).
Yen rallies on weaker Nikkei Index with focus turning towards US CPI and Retail Sales data, due later today.
Inflation is expected to weaken in Oct according to 0.1% forecast vs 0.5% in Sep while core CPI is expected to tick higher (2.2% f/c vs 2.1% previous month).
Today’s release will be fresh indication for the US policymakers, however, as Fed is expected to act in December and hike rates once more this year.
Retail Sales are expected to significantly drop in Oct (0.1% f/c vs 1.6%) which could further pressure the greenback on weak releases today.

Res: 113.19; 113.49; 113.65; 113.91
Sup: 112.76; 112.31; 112.00; 111.65

USDJPY

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