FxWirePro: USD/JPY trades flat ahead of Warsh's policy signals

• USD/JPY traded flat on Friday   as investors   awaited Federal Reserve Chair Kevin Warsh   speech at Jackson Hole.

• Federal Reserve Chair Kevin Warsh’s debut speech at the Jackson Hole symposium in Wyoming is scheduled for 1400 GMT on Friday.

• Investors are particularly focused on his views on inflation, interest rates and the Fed’s policy outlook, with his remarks expected to provide greater clarity ahead of the September policy meeting.

• Annual core inflation in Tokyo accelerated to 1.8% in August from 1.7% in July, marking a third straight month of increases and exceeding expectations.  

• Core consumer prices in Tokyo rose 1.8% in August from a year earlier, government data showed, slightly above market forecasts for a 1.7% gain ​and creeping near the BOJ's 2% target.

• Immediate resistance is located at 159.35 (50%fib), any close above will push the pair towards 160.87(May 4th high).

•  Support is seen at 158.00(Psychological level) and break below could take the pair towards 155.20(23.6%fib).

Recommendation: Good to buy  around 159.20, with stop loss of 158.50 and target price of 160.00