USDJPY jumps to multi-month high following Fed and BoJ policy announcements

USDJPY surged 1.2% in post-BoJ trading on Thursday, reaching its highest level since mid-February.

The rally gained momentum after the Federal Reserve adopted a more hawkish tone than expected on Wednesday, and extended further following the Bank of Japan’s decision to keep interest rates unchanged while signaling the possibility of a hike if the economy stays on its projected path—a move markets interpreted as cautious, adding pressure on the yen.

Buyers pushed the pair above the upper boundary of the rising channel at 153.53, then broke through the 154.00 barrier (bearish trendline from the June 2024 peak at 161.95) and tested Fibonacci resistance at 154.40, representing the 76.4% retracement of the 158.87–139.88 decline.

Bullish daily indicators—strong positive momentum and moving averages in a bullish setup, including a newly formed 100/200 DMA golden cross—support the uptrend. The breakout above the channel also signals acceleration in the broader bullish structure.

A clear move above 154.40 would open the way toward 154.66–154.80 (the February 12–13 double top) and the key psychological level at 155.00. A daily close above the broken channel’s upper trendline would confirm the breakout and maintain the bullish outlook.

Res: 154.40; 154.80; 155.00; 155.52
Sup: 153.53; 153.25; 153.00; 152.23