The outlook for USD/JPY looks mixed. The pair is stabilizing near the level of 154.60. Despite the high interest from buyers, investors are in no hurry to open long positions, expecting a possible intervention by the Bank of Japan in forex currency trading against the background of a critical weakening of the yen. After the historic increase in the interest rate last month, the regulator announced the continuation of a soft monetary policy. At the same time, the Minister of Finance of Japan, Shunichi Suzuki, noted that the monetary authorities are monitoring the situation with the exchange rate of the national currency and are ready to take appropriate action if necessary. In the case of currency interventions, the yen may begin to strengthen rapidly.
The yen was supported yesterday by data on Japan's foreign trade, where exports increased by 7.3% in March and imports decreased by 4.9%. The trade balance has reached a surplus of ¥366.5 billion. The national consumer price index in Japan is projected to adjust from 2.8% to 2.7% in March.
Today, investors will focus on the publication of the US Federal Reserve's monthly economic report, known as the Beige Book. Inflation data for March will be presented in Japan.
On the Daily, the Bollinger Bands are aimed at strong growth, the MACD retains a buy signal. The Stochastic oscillator is flat in the area of maximum values.
To form long positions, it is necessary to confidently overcome the resistance level of 155.00 upwards. The target will be 156.00. We will set the stop loss at 154.50.
A rebound from 155.00 followed by a breakdown down to the level of 154.50 will serve as a signal to enter short positions with a target of 153.50. In this case, we will set the stop loss to 155.00.
![USD/JPY chart](/articles_files/files/usdjpy_daily-1 (3).webp)