USD/JPY Consolidates Near Late-July High Amid Policy Divergence
The USD/JPY pair has been trading near its late-July high, with buyers maintaining control above the psychological 160.00 level.
This is due to the ongoing divergence between the Federal Reserve's and the Bank of Japan's monetary policy stances, which continues to drive the yen's weakness.
As long as USD/JPY stays above 160.00, the broader trend remains constructive, with the late-July high near 161.80 remaining an immediate upside target.
A break above this level could open the door to further gains, with the next resistance seen around 162.50.