USD/JPY Gains Momentum, Eyes 153.00

George Solotarov
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USD/JPY Gains Momentum, Eyes 153.00

The USD/JPY pair has rebounded after a brief pullback, with the US Dollar gaining strength on the back of resilient economic data.

Key Factors:

  • Strong US Economic Data: The recent release of US economic data, including the PCE Price Index and Jobless Claims, has reinforced expectations for a more hawkish Federal Reserve.
  • BoJ Monetary Policy: The Bank of Japan's accommodative monetary policy continues to weigh on the Japanese Yen, supporting the USD/JPY pair.
  • Geopolitical Tensions: Ongoing geopolitical tensions, particularly in the Middle East and Eastern Europe, are also contributing to the US Dollar's safe-haven appeal.

Technical Analysis:

  • Upward Trend: The USD/JPY pair is in an upward trend, with the potential for further gains.
  • Resistance Level: The 153.00 level is a key resistance level.
  • Support Level:The 151.65 level is a potential support level.

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