USD/JPY Strategy - Awaiting the BOJ Governor's Speech, Will the Yen Continue to Depreciate?

Fundamental Analysis:

The Federal Reserve's rate decision concluded yesterday. With robust US economic and employment data, the pace of inflation decline may slow. Additionally, Fed Chair Jerome Powell mentioned that future rate cuts will proceed cautiously, creating a hawkish outlook that pressured non-USD currencies. Earlier, the Bank of Japan kept its monetary policy unchanged, citing significant uncertainties domestically and internationally, disappointing yen bulls who had expected a rate hike. This further exacerbated the yen's depreciation. If Governor Kazuo Ueda’s upcoming remarks remain dovish, the yen may continue to weaken.

Technical Analysis:

On the 1-hour USD/JPY chart, relative highs and lows continue to rise, with new short-term highs indicating stronger buying momentum. If subsequent pullbacks do not break previous support levels, the upward trend may persist. A bullish bias is recommended.

Trading Recommendation:

Enter a long position at 154.84.

Stop-loss: Below 154.00. Target: 155.90.

Support Level: 154.84 Resistance Level: 155.90

Disclaimer: Trading involves risks, and the above recommendation is not a guarantee of profit. Investors should assess their own funds and risk management strategies.