Resilient Dollar: USD/JPY Bullish Trend Persists Despite BOJ Hurdles

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USDJPY is testing a major trendline on the daily chart, presenting opportunities for both sellers and buyers:

•Sellers may enter positions below the trendline, targeting a drop to 140.00

•Buyers might look for a break above the trendline, aiming for 160.00

Nomura’s analysis suggests:

•A major US equities correction could lead to broad USD strength

•JPY and EUR might outperform other currencies due to macro divergence and policy support

Despite the recent BOJ meeting setback, the USD/JPY bullish cycle remains intact

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