USD/JPY Surges Above 147.40 as Yen Weakness Accelerates

USD/JPY has extended its bullish momentum, breaking above the 147.40 level in Asian trading, marking a continuation of the pair's recent upward trajectory. The Japanese yen remains under pressure amid diverging monetary policies between the Federal Reserve and the Bank of Japan, with the BOJ maintaining its ultra-loose stance despite global tightening trends. The move represents a significant psychological breakthrough, as 147.00 had previously acted as strong resistance. Market participants are closely monitoring any potential intervention signals from Japanese authorities, though no immediate action appears forthcoming. Technical indicators suggest further upside potential, with the next major resistance level at 148.00, followed by the October 2022 high near 148.85. Support has now formed at 147.00, with the 146.50 area providing additional backing. Traders should remain vigilant for any shifts in BOJ rhetoric or unexpected yen-positive developments that could trigger a sharp reversal.