No important events are expected today:

A mixed backdrop is forming for today. On the one hand, the dollar is weakening against all major peers after the release of the US inflation release for October, as inflation declined much more than the consensus forecast, leading traders to think that the Fed’s monetary tightening cycle will end soon.

The market now expects the Fed to bring rates up to 5% in March 2023 and then take a pause. On the other hand, we saw a powerful rally in the American stock market after the inflation report, which might encourage traders to buy in this currency pair, as USDJPY is historically strongly correlated with the SP500.

Recommendations: Flat 141.00 -142.00