Key events for today:

20.02 13:30 UTC: USD – Quarterly GDP change.

USD/JPY is trading near 155 and continues to find support from the dollar: investors believe U.S. interest rates may remain elevated longer than previously expected. When the rate differential between the U.S. and Japan is significant, the dollar appears more attractive, while the yen tends to stay weaker, especially during periods of rising market caution.

From Japan’s side, attention is focused on economic data and signals from the Bank of Japan. Even if some indicators look solid, the market assesses how quickly the regulator is willing to adjust policy. With expectations of sharp moves still limited, it is difficult for the yen to gain sustainable support, and the pair mainly reacts to U.S. news and overall demand for the dollar.

In the coming months, key drivers for USD/JPY will include the path of U.S. rates, updates on Japan’s economic conditions, and potential official comments regarding excessive yen volatility. If the current backdrop persists, the base scenario suggests continued dollar demand and further upside attempts for the pair.

Recommendations: BUY 155.15, SL 154.65, TP 156.65