Anna 
The USD/JPY pair experienced a significant upward trajectory this week, albeit with notable volatility. The Bank of Japan’s meeting on Friday morning surprised the market by refraining from actions to counter the yen’s depreciation, stating that the yen’s sell-off has not materially impacted the economy.
Despite the surprise, the pair remains in an overall uptrend. While the market may appear stretched, any pullback is likely to be viewed as a buying opportunity by investors looking to capitalize on value dips.
The ¥155 level is expected to serve as a significant support level, prompting the question of where the pair goes from here. With a target set at 157 and potential for further gains, reaching 160 remains a realistic possibility in the current market environment. Traders may need to analyze shorter timeframes for entry points, given the ongoing bullish sentiment.
Interest rate differentials continue to exert upward pressure on the dollar, further supporting the case for the pair’s uptrend over the longer term. While periodic market pullbacks are anticipated, they are viewed as buying opportunities within the broader uptrend scenario.
In summary, the USD/JPY pair is poised to continue its upward trajectory, with market participants eyeing key support levels and potential targets amid prevailing bullish sentiment driven by interest rate dynamics.
