USD/JPY: Consolidation on the day – OCBC

Source Fxstreet

USD/JPY was a touch softer, tracking UST yields lower while BoJ MPC (last Friday) hinted at continued policy normalization. Pair was last seen at 154.05, OCBC's FX analysts Frances Cheung and Christopher Wong note.

USD/JPY to trend lower for now

"Japanese economic data supports BoJ policy normalization. Wage growth pressure remains intact, alongside broadening services inflation. Tokyo core CPI, PPI, wages rose while labor market report also pointed to upward wage pressure with jobless rate easing, while trade unions are calling for another 5-6% wage increase at shunto wage negotiations for 2025."

"We still look for USD/JPY to trend lower, premised on Fed cut cycle while the BoJ has room to further pursue policy normalization. Bearish momentum intact while RSI fell. Consolidation likely with risks skewed to the downside. Support at 152.80 (200 DMA). Resistance at 156.90 (21 DMA), 158.80 (recent high)."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.
Author  FXStreet
Aug 22, 2023
Prioritize filling the $27,000 gap and even try higher.
placeholder
Lagarde speech: Price pressures gradually diminishingChristine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave the key interest rates unchanged in April and responds to questions from the press.
Author  FXStreet
Apr 12, 2024
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave the key interest rates unchanged in April and responds to questions from the press.
placeholder
Elon Musk’s xAI and Neuralink Launch New Funding Rounds​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
Author  Insights
Jun 03, 2025
​Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
placeholder
Gold Price Forecast: XAU/USD remains capped under $3,400 ahead of US inflation dataThe Gold price (XAU/USD) attracts some sellers to near $3,390 during the early Asian session on Monday.
Author  FXStreet
Aug 11, 2025
The Gold price (XAU/USD) attracts some sellers to near $3,390 during the early Asian session on Monday.
placeholder
Ethereum smart contract deployments reach new 8.7M high in Q4Token Terminal data revealed that smart contracts deployed on the Ethereum network hit an all-time high of 8.7 million in the fourth quarter of 2025.
Author  Cryptopolitan
Dec 29, 2025
Token Terminal data revealed that smart contracts deployed on the Ethereum network hit an all-time high of 8.7 million in the fourth quarter of 2025.
Related Instrument
goTop
quote