The Japanese yen experiences initial surges in Asian trading hours following indications from Bank of Japan policymakers hinting at an eventual exit from ultra-easy policies. The central bank sets its sights on achieving the long-sought 2% inflation goal, contemplating a shift in its easing monetary policy later this year. However, market scepticism prevails as investors await concrete actions to match verbal commitments.
USD/JPY is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains toward resistance level since the RSI rebounded sharply from oversold territory.