The Japanese Yen drifts lower on Friday and moves away from over a two-week high. The BoJ policy uncertainty and the risk-on environment undermine the safe-haven JPY. Hawkish Fed expectations underpin the USD and remain supportive of the momentum.
rom a technical perspective, any subsequent move up is likely to confront stiff resistance near the 150.65-150.70 region. This is closely followed by a multi-month peak, around the 150.90 zone touched on February 13, which if cleared decisively will be seen as a fresh trigger for bullish traders. Given that oscillators on the daily chart are holding comfortably in the positive territory, the USD/JPY pair might then climb to the 151.45 hurdle en route to the 152.00 neighbourhood, or a multi-decade peak set in October 2022 and retested in November 2023.
rom a technical perspective, any subsequent move up is likely to confront stiff resistance near the 150.65-150.70 region. This is closely followed by a multi-month peak, around the 150.90 zone touched on February 13, which if cleared decisively will be seen as a fresh trigger for bullish traders. Given that oscillators on the daily chart are holding comfortably in the positive territory, the USD/JPY pair might then climb to the 151.45 hurdle en route to the 152.00 neighbourhood, or a multi-decade peak set in October 2022 and retested in November 2023.