Ella 
In the Asian market on Tuesday, the USD/JPY trend was flat, remaining below the 157.00 mark, as investors waited for key data that will determine the pace of future interest rate cuts by central banks.
A quiet start to the week, with U.S. markets closed for the Memorial Day holiday on Monday, will officially kick off the week for USD/JPY on Tuesday. Economic data will remain sparse on Monday, and investors will be closely watching further speeches from Federal Reserve (FED) policymakers. Several key Fed chiefs are set to speak early this week, while Bank of Japan officials had little impact on markets on Monday in talking about yen appreciation.
In April, Japan’s business services price index annual rate of inflation rose faster than expected, with an annual rate of 2.8%, stronger than the previous value of 2.3%, recording the fastest growth since 2015.
Japan’s Tokyo Consumer Price Index (CPI) inflation rate will be released later this week. The market expects inflationary pressure to rise as well, with Tokyo’s core inflation expected to rise to 1.9% from the previous value of 1.6%.
