USDJPY consolidates near 152.00 as yen shows resilience amid BoJ speculation

USDJPY has paused its recent advance, trading sideways near 152.20 as the Japanese yen demonstrates unexpected resilience despite the wide US-Japan rate differential. The pair retreated 0.2% from session highs of 152.45, with traders cautious about potential Bank of Japan intervention above the 152.50 level. Recent comments from BoJ officials suggest growing confidence in achieving sustainable 2% inflation, fueling speculation about policy normalization in early 2025. Meanwhile, the dollar's strength is being tested ahead of the Federal Reserve decision, with markets focused on the dot plot's implications for future rate cuts. Technical indicators show USDJPY facing strong resistance at 152.50-152.80, while support has formed at 151.50. The 14-day RSI at 68 suggests limited upside momentum without fresh catalysts. Traders should monitor Japanese wage data and Fed guidance for directional cues this week.