USD/JPY: The dollar eased as investor focus turned to next week’s Federal Reserve meeting for hints on a possible rate cut amid rising risks to trade and global growth. The pair was trading 0.05 percent down at 108.30, having hit a high of 108.80 on Tuesday, its highest since May 31.
Investors’ will continue to track the broad-based market sentiment, ahead of the U.S. retail sales, capacity utilization, industrial production and business inventories. Immediate resistance is located at 108.87 (50.0% retracement of 109.92 and 107.81), a break above targets 109.47 (78.6% retracement). On the downside, support is seen at 107.88 (June 3 Low), a break below could take it lower at 107.51 (Jan. 4 Low).