The forex market has a light calendar ahead, with ANZAC Day being a national holiday in Australia. However, there are a few key events to note:
1. USD/JPY has risen above its latest resistance level of 155.00, prompting expectations of verbal intervention from Japanese officials. This intervention could create opportunities for dip buying.
2. Markets in Australia are closed for ANZAC Day, which commemorates the Australian and New Zealand Army Corps.
As of early evening in Tokyo, Japanese officials have remained conspicuously silent amid the steady rise of USD/JPY. This unusual lack of verbal intervention has raised expectations that the Japanese government may be hoping traders will interpret the quiet as a warning and refrain from pushing the currency pair beyond 155.00. The silence has contributed to a relatively muted day in broader markets, with the dollar holding steady against the euro and pound and European indices showing only marginal gains.
