USD/JPY closed above 145.00 ahead of Japanese GDP data USDJPY Majors Currencies
USD/JPY finally broke with the 145.00 resistance and rose near 145.55, tallying a six-day winning streak.Eyes on preliminary Q2 GDP figures from Japan to be released on Tuesday.rose to its highest level since November 10, 2022, mainly driven by a cautious market mood and a stronger USD. In addition, after jumping above the key resistance of 145.00, there are no signs of the Bank of Japan of a stealth intervention which leaves the JPY vulnerable.
On the Japanese side, Tuesday will witness the release of the Q2 Gross Domestic Product preliminary report, with projections anticipating a rise at a yearly rate of 3.1%. Nonetheless, it's worth noting that the Bank of Japan has yet to show any indications of pivoting away from its accommodative monetary approach or engaging in market interference to manage the depreciation of the JPY. This lack of action could fuel an avenue for additional negative movement for the pair.
In addition, a distinct bullish dominance over sellers is evident on the four-hour chart, with indicators displaying a strong buying momentum.USD/JPY Daily chart
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