The move in $USDJPY to 161.67 is significant. We're testing multi-year highs. The divergence in monetary policy continues to be the primary driver. I'm watching for a potential breakout above 162.00 in the coming days.
Totally agree. The momentum behind this move feels strong, and that 162 level is definitely the one to watch. Any signs of intervention from the BOJ could throw a wrench in it, but for now, the path seems clear.
While the policy divergence is undeniable, I'm a bit wary of calling a breakout just yet. We've seen resistance around these levels before, and the risk of a sharp reversal on any hawkish shift from the BOJ is still a factor to consider.