As scheduled, the Fed Chair Jerome Powell delivered a speech during Tuesday's session at the National Association for Business Economics's 60th annual meeting in Boston last night. During most of his speech, he spoke about concerns over the Phillips Curve, which represents the relationship between the labor market and inflation. During today's session, traders will keep a eye on the ISM Non-Manufacturing PMI report. In addition, Powell will be speaking again today in a panel discussion at the Atlantic Festival in Washington DC.
After a still session for the pair on Tuesday, USD/JPY may move in a bullish manner towards the 113.85 level where it may break it and move further in the direction of the 114.05 area during today's session. The Dollar/Yen seems to be a good buy during Wednesday's session.
Support: 113.56 113.35
Resistance: 113.85 114.05