The USD/JPY pair trades in a tight range around 147.50 during Wednesday’s European trading session. Investors consolidate positions as they anticipate the release of the US Producer Price Index (PPI) data for August, scheduled for 12:30 GMT.

The upcoming data release could significantly influence trading strategies and market sentiment. Traders should prepare for potential volatility surrounding this announcement.

Gauging market reaction will be essential for making informed decisions in this rapidly evolving forex landscape.