USDJPY is trading within a limited range

Updated
USDJPY FORECAST - TECHNICAL ANALYSIS
USD/JPY traded within a confined range on Thursday, lingering just below overhead resistance at 152.00. This technical barrier warrants close attention, as a breakout might prompt intervention from the Japanese government to support the yen. Should such a scenario unfold, a rapid reversal below 150.90 could occur ahead a possible drop towards the 50-day simple moving average at 149.75.

In the event that USD/JPY takes out the 152.00 level and Tokyo refrains from intervening, opting instead to allow market forces to find a new equilibrium for the exchange rate, buyers might gain confidence to launch a bullish attack on 155.25, a key barrier created by the upper boundary of an ascending channel in place since December of last year.
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USDJPY is close to 151.958
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USD/JPY traded around 151.89 after BoJ Governor Ueda's remarks

USD/JPY increased to near the 152.00 mark, trading around 151.89 after BoJ Governor Ueda's comments that he needed to consider reducing the level of economic stimulus if inflation continues to accelerate.
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USDJPY did not fluctuate much after BoJ Governor Ueda's statements

USDJPY is currently increasing slightly by 0.02% to 151.75, without much change after BoJ Governor Ueda's statements.

All eyes of the market are currently on the release of US CPI data for March today
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USDJPY dropped to 154.15 after statements from Japanese officials

Japanese Deputy Minister of Finance in charge of international affairs Kanda continued to intervene in currency with words, affirming the G7 statement reaffirming foreign exchange commitments based on Japan's stance

BoJ official Noguchi affirmed the need to maintain ultra-loose monetary policy

USDJPY decreased slightly to 154.15.
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One thing to note is that over the past several months, despite global instability, the USDJPY pair has still increased, proving that the USD is still more favored. However, the RSI indicator is in the overbought zone and shows signs of turning down. If the correction takes place, it may not be too negative and the main trend will still be uptrend.
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USDJPY rose 0.4% to a session high of 155.37 on Wednesday, marking the first time since June 1990 that the pair exceeded 155. USDJPY traded at 155.21 as of 5:27 a.m. this morning.
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USD/JPY decreased slightly from the peak to 155.97 before BOJ Governor Ueda's speech.

The BOJ's policy decision hasn't yielded much, and based on recent inflation data, it's hard to see an overly hawkish approach from Ueda. But that could be taken to mean they are comfortable with allowing the yen to fall further.

Ueda prepares to start the press conference. And usually, it will last about an hour or so. USD/JPY rose 0.2% to 155.97 on the day but was down from around 156.20 previously.
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