USD/JPY is trading at 145.610, 0.17% down since previous day close. The YEN weakened to some extent on Monday against the steady USD ahead of the release of U.S CPI data & FOMC meeting with a focus on changes in monetary policy. Last week, the pair rallied after BoJ Governor Ueda hinted for a change in monetary policy; raising the chances of interest rate hike. On data front, the Japan’s BSI Manufacturing Index rose to 5.7 from 5.4 in the previous month & the Prelim Machine Tool Orders fell by 13.6% lower than previous reading of -20.6%. As seen in the chart, the pair seems to be reversing up from Fibo level 61.8 which acts as a major support level; however, the wait & watch strategy may be adopted for the day in USD/JPY.

Gold is trading at $1995  .44, 0.09% down since previous close. The downside can be seen in gold prices against the steady USD ahead of the release of U.S CPI data & FOMC meeting due to be held in this week. Also, the better-than-expected U.S Non-farm Payroll data turned out to be supportive for USD & weigh down the gold prices. Last week, the ECB hinted for a rate cut in second quarter of next year which pressurized the EURO & Gold & the mixed Chinese economic outlook remains vital for gold prices since China is a top consumer of metals.  As seen in the chart, the gold is hovering near higher levels which acts as a resistance level & hence, make-or-break situation can be recommended further.

US100 is trading at 16062.3, 0.01% up since previous close. The range bound trading can be seen in U.S markets as traders remain cautious ahead of the U.S CPI data release event due on Tuesday. Also, the FOMC is to conclude its monetary policy meeting on Wednesday late evening which restricts the buying pressure in US100. Last week, the U.S issued robust Non-farm Payroll data which slightly cushioned the index US100. Unsteady Chinese economic development & ongoing tension between Israel & Hamas remain vital for equity markets. As seen in the chart, although US100 retraces down yet it seems to be taking a support of MA (10) & MA (20) which acts as a major support level. Buying on lower levels may be recommended for the day.