USD/JPY trades close to 150.00, fears of intervention remain intact

The USD/JPY pair consolidates in a narrow range near the crucial resistance of 150.00. The upside in the asset seems upbeat as investors hope that the

USD/JPY juggles around 150.00 while Japan’s intervention fears remain intact. US annualized GDP data is seen higher at 4.1% despite higher interest rates by the Fed. Japan’s stealth intervention won’t be able to provide longer stability to the Japanese Yen. Federal Reserve will keep the interest rate policy tight for a long period if not discuss raising interest rates further. S&P500 futures generated losses in the European session, indicating a risk-off mood amid Middle East tensions.

Jerome Powell commented that higher yields are impacting current financial conditions. Philadelphia Fed Bank President Patrick Harker, in an interview on Friday, favored holding interest rates as the economy is softening than thought. On the Japanese Yen front, investors watch out for intervention by the Japanese authority in the FX domain to provide support to the weakening Yen.

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