Japanese Yen remains resilient against the Dollar, keeping USD/JPY pair close to its October low.

Japanese Yen appreciated against the Greenback for the third month straight as uncertainty looming over trade war boosted demand for this safe haven asset. Investors are also speculating Bank of Japan's next move among heightened possibilities of a rate hike. The BOJ increased its short term policy rate by 25 bps in January 2025, the highest level in the last 17 years. The Yen is set for further gains as the central banks monetary policy's future projections seem hawkish. USD/JPY testing its crucial support of 147.50 below which it's set for further declines coupled up with a descending channel on the daily chart.
USDJPY TECHNICAL ANALYSIS
Technical Structure: Down for the third consecutive session, Bearish candle on daily, Bearish Flag on 4H, Consolidation on 1H.
Primary Trend: Bearish
Intraday Trend/ Intraday Strategy: Bearish to Neutral/ Buy on Support, Sell on Resistance
Major Support: 147.35, 146.45, 145.15
Major Resistance : 148.50, 149.35, 150.30
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