RSD/JPY Price & Performance (RSDJPY)

The Japanese yen has continued its upward trajectory, hitting a 12-week high against the U.S. dollar. This surge is attributed to expectations of a potential interest rate hike by the Bank of Japan. Inflationary pressures and GDP growth in Japan have bolstered these anticipations, narrowing the Japan-U.S. yield gap.12

The USD/JPY currency pair is testing a critical resistance level near 150. Analysts suggest that breaking this barrier could pave the way for further bullish momentum, while failure to do so might trigger a downward correction. Investors are closely monitoring the Federal Reserve's next moves for direction.34

Tokyo's core CPI eased to 2.2% in February, slightly below expectations, yet remains above the Bank of Japan's target. Despite this, the yen's strength persists, supported by hawkish monetary policy expectations. Analysts believe the BoJ's stance on inflation will remain firm, influencing yen movements in the near term.56