USD/JPY Outlook: Bulls look to seize near-term control, move beyond 148.80 hurdle awaited
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The USD/JPY pair is gaining positive traction for the second successive day, with bulls looking to move beyond the 148.80 resistance level. The momentum is supported by the dovish remarks from the Bank of Japan (BoJ) and the underlying bullish sentiment in global equity markets. Investors believe that wage growth in Japan may outpace that of 2023, leading to the exit of the BoJ's ultra-loose monetary policy. However, the USD's lackluster performance and uncertainty over the Federal Reserve's rate cut path may cap any significant appreciation in the USD/JPY pair. Traders are awaiting the release of US economic data and speeches by central bank officials for further direction.
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