USDJPY: Supported

Antonia_Le Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has continued its upward trend over the past few days, with prices fluctuating around the 150.23 mark and steadily advancing towards the 152 resistance level.

The US Dollar (USD) remains in a concerted effort to attract significant buying interest, contributing further to a daily decline of about 25 pips from the vicinity of the 150.00 level for the USD/JPY pair. Meanwhile, the increasingly firm expectation that the Federal Reserve (Fed) will maintain higher interest rates for an extended period, reinforced by the hawkish FOMC meeting minutes released on Wednesday, continues to support rising US Treasury yields.

This scenario benefits the USD's upward trajectory, indicating that the path of least resistance for this currency pair is upwards.
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