๐ USD/JPY aims for 160 yen breakout
The US dollar continues to attract buyers against the Japanese yen, despite recent interventions by authorities. Buyers are testing the Bank of Japan as the carry trade heavily favors the US dollar. Recent US economic data, including softer CPI and PPI, has dampened expectations for Fed rate hikes. Support for the currency remains near 4,400, close to the weekly Volume Point of Control. The currency is heading for its worst week in three months, approaching the 160 yen mark.