USD/JPY Bears Target 148.00 as BoJ Hawkish Rhetoric Intensifies

USD/JPY extended losses to 149.20, down 0.6% in Asian trading, as Bank of Japan officials maintained hawkish rhetoric regarding potential policy normalization. BoJ Governor Ueda's comments suggesting readiness to adjust monetary policy if inflation sustainably reaches 2% triggered yen buying across the board. The pair has now declined 2.1% from last week's high of 152.00, with momentum indicators signaling further downside potential. Japanese core CPI data showing 2.8% year-over-year growth reinforced expectations for policy adjustment, contrasting with the Federal Reserve's potentially dovish pivot. Technical analysis reveals strong support at 148.80 (August low), with a break below targeting 148.00. Resistance stands at 150.00, now acting as a ceiling for any corrective bounces. Currency strategists note that the BoJ's shifting stance could mark a significant turning point for USD/JPY, potentially ending the pair's multi-year uptrend if Japanese officials follow through with rate normalization.