With the approach of early evening in Tokyo, Japanese officials have notably refrained from the verbal pushback typically observed in response to the strengthening of USD/JPY. This conspicuous silence has prompted speculation that Japan may be employing a strategy of quietude to instill caution among traders. For approximately the past two hours, USD/JPY has oscillated within a narrow range of 154.85-92, demonstrating a brief dip to 154.76 that was swiftly met with buying pressure. The key question now looms: will Japan intervene if price transcends the crucial resistance level of 155.00? The broader financial markets remain relatively subdued pending Japan’s decision, with the dollar maintaining slight gains against both the euro and pound. Simultaneously, European indices have registered minimal increases, with S&P 500 futures currently hovering around a modest 0.2% increase.
USD/JPY Holds Near 154.85 as Japan Keeps Silence
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