Japanese Yen Technical Outlook: USD/JPY Challenges 2024 Highs as Intervention Risk Looms

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Japanese Yen Technical Outlook: USD/JPY Multi-Timeframe Analysis

Japanese yen weakness and USD/JPY breakout risks are back in focus as the currency pair tests major resistance near its 2024 highs. Michael Boutros, Senior Market Analyst at FOREX.com, examines the technical outlook for USD/JPY, the growing threat of Japanese intervention, extreme retail positioning, and why upcoming U.S. inflation data could determine whether the rally extends further. He also highlights the key support and resistance levels traders should be watching closely.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.

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USD/JPY Key Data Releases

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--- Written by Michael Boutros, Senior Technical Strategist

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