USD/JPY Gains Momentum Amid Stronger Dollar and Rising Yields
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USD/JPY is showing clear bullish momentum as the US Dollar strengthens for the second day, supported by rising US Treasury yields. The 10-year yield increased to 4.23% from 4.13%, widening the gap with Japanese bonds and pressuring the Yen further.
Markets are cautious ahead of Wednesday's US CPI report, expected to show annual inflation rising to 2.7% in November, while core inflation remains steady at 3.3%. These numbers won’t likely change expectations for a Fed rate cut next week but could signal a more careful approach to easing in 2025.
The Yen remains under pressure due to Japan’s dovish policies, contrasting sharply with the Fed's more neutral stance. With strong Dollar fundamentals and rising yields, USD/JPY is poised to climb higher, targeting 151.20 if it breaks above 150.50. Support at 149.50 remains a key level to watch for pullbacks.
The outlook for USD/JPY is firmly bullish, with inflation data likely acting as the next major driver.
Markets are cautious ahead of Wednesday's US CPI report, expected to show annual inflation rising to 2.7% in November, while core inflation remains steady at 3.3%. These numbers won’t likely change expectations for a Fed rate cut next week but could signal a more careful approach to easing in 2025.
The Yen remains under pressure due to Japan’s dovish policies, contrasting sharply with the Fed's more neutral stance. With strong Dollar fundamentals and rising yields, USD/JPY is poised to climb higher, targeting 151.20 if it breaks above 150.50. Support at 149.50 remains a key level to watch for pullbacks.
The outlook for USD/JPY is firmly bullish, with inflation data likely acting as the next major driver.
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