USD/JPY breaks 148.00 resistance amid Japan inflation data miss
USD/JPY has pushed above the key 148.00 level, currently trading at 148.15, representing a 0.35% gain in the Asian session. The move higher follows Japan's wholesale inflation data that came in below expectations, suggesting less pressure on the Bank of Japan to accelerate policy normalization. The softer PPI reading contrasts with recent speculation about potential BoJ rate hikes, providing relief for yen bears. Dollar strength is returning after yesterday's CPI-induced selloff, with the greenback finding support across Asian currencies. Technical analysis shows the pair breaking above the 148.00 resistance that had capped gains since Monday. The next resistance target sits at 148.75 (weekly high), while support has formed at 147.50. Traders should monitor upcoming Japanese economic data and any BoJ official comments that could impact the yen's trajectory in coming sessions.
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