USDJPY Insight

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Key Points
- According to the Bank of Japan's January meeting minutes, members agreed that if economic activity and inflation outlooks materialize as expected, an additional rate hike would be appropriate due to low real interest rates.
- President Donald Trump met with reporters in the Oval Office on April 2 and stated that tariffs "will create more jobs," emphasizing that his tariffs are fair.
- The market is keeping an eye on the U.S. reciprocal tariffs set for April 2 while also focusing on the PCE price index release on Friday.

This Week’s Key Economic Events
+ March 26: U.K. February Consumer Price Index (CPI)
+ March 28: U.K. Q4 GDP, U.S. February Personal Consumption Expenditures (PCE) Price Index

USDJPY Chart Analysis
USDJPY found support at the lower trendline near the 147 level and has since broken through the upper trendline, expanding its gains to the 151 level. The key focus now is whether it can maintain its uptrend while holding the 149.500 level. If USDJPY remains above 149.500, an upside move toward the 154–155 range is expected. However, if it breaks below 149.500, the pair could decline further toward the 145 level.