USDJPY

The USD/JPY pair is back within touching distance of multi-year highs just below 152.00. It gained value despite Japan’s currency chief Masato Kanda’s intervention speech fueling speculation that Japanese authorities are about to use market operations to support their currencies. The rise is causing confusion after the Bank of Japan’s (BoJ) historic decision to raise interest rates for the first time since 2007 at its policy meeting last Tuesday. The 151.68 level can be monitored in intraday upward movements. If this level is broken, the 151.92, 152.21 and 152.44 resistances could become important. In possible pullbacks, the 151.40, 151.16 and 150.88 support levels will be monitored. Support: 151,400 - 151,160 Resistance: 151,920 - 152,210