USD/JPY trades slightly higher near the 163.80 area on Tuesday, remaining close to multi-decade highs as the Japanese Yen (JPY) struggles to attract demand. Softer United States (US) consumer confidence data limited the US Dollar’s advance, although the pair maintained its upward bias. The Conference Board Consumer Confidence Index declined to 90.8 in July from an upwardly revised 92.2 in June. Tokyo CPI excluding fresh food is expected to accelerate to 1.7% YoY in July from 1.6%, while headline inflation previously stood at 1.7%. Short-term technical analysis:On the 4-hour chart, USD/JPY trades at 163.85.