USDJPY

USD/JPY rose to 148.00 yesterday following the US CPI data. The pair rose as the Japanese Yen weakened after the Bank of Japan (BoJ) expressed its doubts about Japan's economic outlook. Finance Minister Shunichi Suzuki also made a separate statement, saying that Japan is not at a stage where it can declare victory against deflation. The comments of BOJ Governor Ueda and Japanese Finance Minister Suzuki reduced market expectations for the BOJ to exit negative interest rates. Technically, the 147.49 level can be monitored in intraday downward movements. If this level is broken, the supports of 147.28, 147.03 and 146.82 may become important. In possible increases, the 147.74, 147.94 and 148.20 will be monitored as resistance levels. Support: 147.280 - 147.030 Resistance: 147.740 - 147.940