BoJ Hike Fully Priced: USD/JPY Eyes Support Levels Amid Market Volatility
Japanese Yen underperforms G10 peers ahead of key events, including trade data and Consumer Price Index (CPI) releases. Scotiabank strategists Shaun Osborne and Eric Theoret note that a Bank of Japan (BoJ) hike is already fully priced in the markets.
The main focus for USD/JPY traders is on the BoJ's tone and guidance on future hikes, with one additional hike almost fully priced before year-end. Support levels are seen around 153 and 152, while resistance at 155 remains a key level to watch.