USDJPY

The Japanese Yen fluctuated between moderate gains and small losses against the USD on Wednesday. The Bank of Japan (BoJ) announced on Wednesday that it will continue to buy Japanese Government Bonds (JGB) without changing its previous offer. Although the BOJ's dovish stance weakened the JPY, fears of intervention are limiting the downside trend. The decline in views on the Fed's interest rate cut in June will provide support to the Dollar and USD/JPY. The 151.65 level can be monitored in intraday downward movements. If it falls below this level, supports at 151.58, 151.47 and 151.39 may become important. In possible increases, 151.76, 151.84 and 151.95 will be monitored as resistance levels. Support: 151.360 - 151.270 Resistance: 151.760 - 151.870