USDJPY Chart Technical Outlook moves higher towards 156.25 on hawkish Fed
After two interventions by the BoJ and a drop of more than 5% in USD/JPY, prices gained about 2.5%. Hawkish Fed speeches and the BoJ’s vow to keep policy accommodative, plus moderation in wage growth in Japan, support more bullish price action.
The US calendar still has the Initial Jobless Claims due today and the Consumer Sentiment due tomorrow ahead of next week’s inflation data
I expect further upside price action towards 156.25 and then 156.70. Supports are located at 154.90 and 154.05.
