USD/JPY holds above 149.00 on strong US retail sales momentum

USD/JPY maintains its bullish stance above 149.00, supported by yesterday's robust US retail sales data that exceeded expectations. June retail sales surged 0.7% month-over-month, beating forecasts of 0.5% and signaling resilient consumer spending despite elevated interest rates. The pair trades at 149.20, up 0.15% in Asian session continuation. Core retail sales, excluding autos, jumped 0.8%, reinforcing the narrative of US economic strength that supports the dollar. The Bank of Japan's continued ultra-loose monetary policy stance creates a widening rate differential favoring USD strength. Technical analysis shows immediate resistance at 149.50, with a break potentially opening the path toward the psychological 150.00 level. Support holds firm at 148.80, coinciding with the 20-day moving average. Traders remain cautious of potential BOJ intervention above 150.00, though Japanese officials have remained relatively quiet. The pair's upward trajectory likely continues as long as US economic data remains supportive.