USD/JPY Poised for Breakout as Double Data Release Looms

USD/JPY trades in a tight range near 150.80, forming a technical breakout pattern ahead of a critical double data release that could determine the pair's near-term direction. Both US and Japanese economic indicators are due, creating a potentially explosive scenario for volatility. The pair has compressed into a symmetrical triangle pattern on the 4-hour chart, with resistance at 151.10 and support at 150.45. A decisive break above resistance could propel the pair toward 151.80, while failure might see a retest of 150.00 psychological support. The Japanese yen remains under pressure from the Bank of Japan's ultra-loose monetary policy, despite recent verbal interventions from Japanese officials. Meanwhile, USD strength persists on expectations of sustained higher US interest rates. Technical indicators show RSI near 55, suggesting room for movement in either direction. Traders are advised to monitor both data releases closely, as the combination could trigger a 100+ pip move, breaking the recent consolidation phase.