USDJPY

The USD/JPY pair fell sharply to 148.50 in Wednesday's London session. The Japanese Yen strengthened after Jiji News Agency reported that some members of the Bank of Japan's (BoJ) Monetary Policy Committee (MPC) would support an exit from the ultra-loose monetary policy stance at the March policy meeting, while the asset came under pressure. Meanwhile, the US Dollar is weakening amid rising market expectations that the Federal Reserve (Fed) will cut interest rates at the June policy meeting. Technically speaking. The 148.78 level can be monitored in intraday upward movements. If this level is broken, resistances at 149.15, 149.83 and 150.20 may become important. In possible pullbacks, support levels will be monitored at 148.11, 147.73 and 147.06. Support: 148,110 - 147,730 Resistance: 148,780 - 149,150