**USD/JPY Climbs to 148, While AUD/USD Struggles: An In-Depth Analysis**
*(Based on the article by SSB Crack News, with additional insights)*
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**Overview of Recent Forex Market Movements**
The foreign exchange market has been volatile as investors digest new economic data, central bank signals, and shifting global risk sentiment. Two major pairs, USD/JPY and AUD/USD, have captured attention due to distinct moves: USD/JPY advanced toward the 148 level, while AUD/USD continued to weaken. This analysis takes a deeper look at the macroeconomic drivers, technical outlook, and future expectations for both currency pairs, drawing on the original article by SSB Crack News.
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**Main Highlights:**
– The US dollar has surged against the Japanese yen, with USD/JPY reaching up to 148.00.
– Meanwhile, the Australian dollar shows ongoing signs of weakness, particularly versus the US dollar, as AUD/USD hovers below major resistance.
– Market participants are focused on shifting monetary policy expectations from the Federal Reserve, Bank of Japan (BOJ), and Reserve Bank of Australia (RBA).
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**Factors Impacting USD/JPY’s Rally to 148**
USD/JPY has trended upwards, breaching the 148.00 handle, marking a nine-week peak. Multiple fundamental factors have contributed to this bullish move:
**1. Divergence in Monetary Policy**
– The US Federal Reserve continues its hawkish stance. Fed officials, following the June FOMC meeting, have signaled only one rate cut in 2024, a more conservative approach than previously expected.
– In contrast, the Bank of Japan has maintained a dovish stance, keeping its key interest rate near zero. The BOJ’s gradual move away from its ultra-loose policy has been limited, with a cautious adjustment to yield curve control but little material tightening.
– This maintains a significant yield differential, supporting USD/JPY as investors favor higher-yielding US assets.
**2. Robust US Economic Data**
– Recent releases, including better-than-expected nonfarm payrolls and resilient retail sales, bolster the US dollar’s strength. The robust labor market adds further confidence to Fed guidance.
**3. Japanese Authorities’ Position**
– The Ministry of Finance (MOF) and BOJ have signaled their concern with rapid yen depreciation, but actual intervention has been rare since spring 2024.
– Despite warnings, the absence of direct intervention has allowed USD/JPY to march higher. Traders remain alert for verbal intervention or actual yen-buying operations if levels become disorderly.
**4. Risk Appetite and Safe-Haven Flows**
– Renewed risk appetite in global markets has reduced demand for traditional safe-haven assets like the yen.
– As equity markets rally and fears over a global slowdown abate, the yen loses another source of support.
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**Technical Analysis: USD/JPY**
The technical
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