🔍 Fundamental Overview
USD/JPY continues to climb as the dollar benefits from strong macro data and widening yield differentials. The yen remains under pressure due to the Bank of Japan’s slow pace of normalization and capital outflows toward higher-yielding U.S. assets.
🇺🇸 United States:
• Fed Policy: Despite the September rate cut, Powell’s comments suggest further easing is not guaranteed.
• Economic Data: Strong GDP and consumer spending figures support dollar strength.
• Treasury Yields: Rising yields widen the spread against Japanese bonds.
• Risk Factors: Inflation and labor market data remain key drivers.
🇯🇵 Japan:
• BoJ Outlook: Gradual normalization; no aggressive tightening expected.
• Inflation: Above target in Tokyo, but not enough to shift BoJ stance.
• Bond Yields: Japanese yields rising slowly, failing to attract capital.
• Impact: Yen remains weak amid global demand for USD assets.

📊 Technical Analysis
Support Levels:
• 149.20 – short-term support
• 148.30 – breakout base
• 147.85 – stop-loss zone for bullish setups
Resistance Levels:
• 150.50 – recent ceiling
• 151.15 – breakout level
• 153.00 – wave extension target
Indicators:
• MACD: Bullish continuation
• RSI: 66 – strong momentum
• EMA50: Price trading above – confirms bullish bias
• Wave Structure: Breakout-pullback-retest pattern forming

📈 Trading Scenarios
✅ Bullish Setup:
• Entry: Above 150.50
• Targets: 151.15 ➡️ 153.00
• Stop-Loss: Below 149.20
• Catalysts: Strong US data, dovish BoJ, rising yields
❌ Bearish Setup:
• Entry: Below 149.20
• Targets: 148.30 ➡️ 147.00
• Stop-Loss: Above 150.50
• Catalysts: Fed surprise, risk-off sentiment, BoJ intervention