USDJPY Chart Technical Outlook is likely to extend losses towards 151.25 amid BoJ hiking hopes, falling US yields.
The Yen is one of the strongest performers in late November, supported by expectations that the Bank of Japan will increase interest rates in December.
The minutes of the last Fed meeting did not change the outlook of gradual rate cuts going forward, and the US Treasury yields retreated further, providing additional support to the pair.
Today’s focus is on the PCE Prices Index, for further cues on the US Central Bank’s rate path. On Thursday the anticipated Tokyo CPI will be observed for a confirmation of December’s BoJ rate hike.
All in all, the pair is expected to remain on the defensive, unless US inflation data surprises on the upside. Supports at 152.15 and 151.25 are on the bears’ focus. Resistances are 153.45 and 155.00.
