The USD/JPY registers gain for back-to-back days, yet it remains shy of decisively cracking the 144.00 figure despite registering a weekly high of 144.49. At the time of writing, the pair exchanged hands at 143.96, up by 0.93%.

The US dollar continues to see supportive action against the Japanese yen, although it is worth noting that the Bank of Japan has an interest rate meeting on Friday, so we are not in the “all clear” quite yet with this potential recovery in what is an oversold market.

The USD/JPY exchange rate continued its downward trend ahead of the upcoming Bank of Japan (BoJ) and Federal Reserve interest rate decisions. The pair retreated to a low of 141.50 on Wednesday morning,

For a bearish continuation, the USD/JPY must clear the September 19 low of 141.88, immediately followed by the Tenkan-Sen at 141.76. Those levels cleared, and the next demand zone would be the September 18 daily low of 140.44, followed by the YTD low of 139.58