USD/JPY gathers strength above 155.50 as upbeat US data bolsters Dollar

💡 DMK Insight

The USD/JPY’s bounce at 155.55 signals potential bullish momentum, driven by strong US economic data. This uptick highlights a broader trend where the Greenback is gaining traction, suggesting traders should keep an eye on key economic indicators like upcoming job reports or inflation data that could further influence the pair. If the USD can maintain its strength, we might see a test of resistance levels above 156.00. However, it’s worth noting that if the JPY starts to strengthen due to shifts in Japan’s monetary policy, it could quickly reverse this trend. Watch for any comments from the Bank of Japan that might signal a change in their approach, as that could create volatility in this pair. Overall, the immediate focus should be on how the USD reacts to upcoming economic releases, especially if they continue to show strength, which could push USD/JPY higher in the near term.