FxWirePro: USD/JPY rangebound, traders await US consumer sentiment data

Chart - Courtesy Trading View 

USD/JPY was trading rangebound with session high at 149.09 and low at 148.45.

Later in the day, the Conference Board will release the US Consumer Confidence Index for October. 

Data released on Monday showed disappointing PMI surveys from the US, suggesting the private sector activity continued to contract at a strengthening pace in October.

Investors are growing optimistic that the Fed will be looking to adopt a less aggressive tightening stance toward the end of the year.

Major technical bias for the pair is still bullish. Pullback has held support at 21-EMA, weakness only on break below. 

Support levels - 148.92 (200H MA), 146.91 (21-EMA), 143.23 (55-EMA)

Resistance levels - 149.09 (5-DMA), 150.91 (Upper BB), 151.94 (Yearly high)

Summary: USD/JPY trades with a bullish bias, weakness only below 21-EMA.