USD/JPY briefly rallied to hit a new high at 151.97. BBH economists analyze the pair's prospects.
It's only a matter of time before USD/JPY breaks higher
Japanese Finance Minister Shunichi Suzuki once again warned that “we are watching market movements with a high sense of urgency… We will take bold action against excessive movements without ruling out any option“. The BoJ last officially intervened to curb Yen weakness between September and October 2022.
In our opinion, it's just a matter of time before USD/JPY breaks highersince we foresee a gradual process of tightening by the BoJ and a more moderate than expected Fed easing cycle.
The next major technical resistance for USD/JPY after the 151.95-152.00 zone is not before 160.00 (high April 1990).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
