🔍 Technical Overview
• Support Levels:
o 147.60–147.70: short term floor aligned with recent session range
o 146.45–146.60: key minor support zone projected by technical models
o 145.75: downside target if momentum continues downward per Elliott wave outlook
• Resistance Levels:
o 148.00: broken trend line high; role reversal resistance
o 148.50–148.56: recent highs last week and technical cap
o 149.25: breakout level to confirm further bullishness
• Indicators:
o Price has cleared the 50 day EMA into bullish territory, easing prior negative pressure
o Momentum signal positive above 148.00; push to 149.18 possible per short-term forecast

📰 Fundamental Highlights
• Trade and Policy Drivers: A U.S.–Japan auto tariff agreement reducing rates to 15% lifted sentiment toward the yen. Anticipation of Fed and BOJ rate decisions added volatility . The yen gained nearly 1% last week, the strongest weekly move since mid-May .
• Central Banks in Focus: Both the Federal Reserve and Bank of Japan are expected to hold policy rates steady. Markets await forward guidance, especially if BOJ signals a shift toward tightening amid elevated coastal price inflation and trade accommodation.

📅 Key Events This Week (Bullet Format)
• • Wednesday, July 30: Fed meeting minutes (forward guidance cues)
• • Thursday, July 31: BOJ policy decision and updated inflation outlook
• • Friday, August 1: U.S. job market data (NFP, jobless claims) and PMI releases

🧭 Weekly Outlook & Strategy
🔼 Bullish Scenario:
• If 147.60–147.70 support holds, bullish momentum may reassert above 148.50–148.56.
• A breakout above 149.25 opens the path toward higher resistance levels—possibly 150.00 and beyond.
🔽 Bearish Scenario:
• Breakdown below 147.60 may trigger a pullback into 146.45–146.60, and on weakness toward 145.75 per wave-based forecasts.
• A dovish outlook from BOJ or easing global tensions could support yen strength.