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USD/JPY baiting the BOJ right now as ISM looms

Just ahead of the important US ISM service sector index, the USD/JPY is still pressing a little higher and just now it hit a session high at 151.95. That is perilously close to the current 2024 high at 151.97 and we know that is right at a point where it caused a whole barrage of rhetoric from many Japanese officials. Granted, most of those are tucked up in bed now, but it pays not to be complacent about that. Whilst those Japanese officials might think the markets are baiting them right now, the truth is the USD/JPY deserves to be up here and not the other way around. However there remains a good deal of trepidation concerning potential BOJ intervention up here. So, in a few minutes from now we will get that ISM data and of course that has the potential so send the dollar above 152, or send it sliding back down again. All will be revealed shortly folks. The USD/JPY is right now trading at 151.93 
 

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