USD/JPY buyers are tentatively pushing the pair higher above the 155.00 mark, but are wary of overstepping the line that could trigger a reaction from Tokyo. The pair finally breached the 155.00 level in US trading yesterday, reaching its highest level since 1990. From a technical perspective, the April 1990 high of 160.40 is the next key level to watch. However, Japanese authorities have indicated that the 160.00 mark is now a more critical threshold. The pace of yen decline is also a significant factor, as buyers are cautious not to trigger a sharp correction. With the Bank of Japan’s policy decision and Governor Ueda’s press conference scheduled for tomorrow, the language used and any signals on the yen’s future direction will be heavily scrutinized. Buyers are dipping their toes in the water to gauge if the line in the sand has shifted in USD/JPY, but confirmation may only come after the BOJ announcement.
USD/JPY Tests 155.00 Mark, Eyes 160.00 as BOJ Decision Approaches
