USD/JPY rises to 148.65 as dollar strengthens, Trump uncertainty persists

USD/JPY advanced 0.5% to 148.65 on Wednesday, marking a significant retest of recent resistance levels as the dollar gained strength across the board. The move higher reflects ongoing market uncertainty surrounding Trump administration policies, particularly regarding trade relations and Federal Reserve criticism. Trump's continued public disputes with Fed Chair Powell have added volatility to dollar pairs, with traders positioning defensively ahead of potential policy announcements. The yen's weakness also stems from diverging monetary policies, as the Bank of Japan maintains its ultra-loose stance while the Fed signals hawkish intentions. Technical indicators show USD/JPY approaching the 149.00 psychological resistance, with support established at 147.80. The pair's upward momentum could accelerate if it breaks above 149.00, potentially targeting 150.00. However, any escalation in geopolitical tensions or aggressive Trump rhetoric could trigger safe-haven yen buying.