BoJ Meeting Anticipated to Bring YCC Policy Adjustment, USD/JPY at 145.00?

The Japanese yen has gained against the US dollar for two consecutive days, signaling pressure on the Japanese currency. Market participants are eagerly awaiting the Bank of Japan's (BoJ) interest rate meeting, where the BoJ may announce adjustments to its Yield Curve Control (YCC) policy, potentially allowing 10-year Japanese government bond yields to rise above 1%. The outcome of the meeting could significantly impact the USD/JPY outlook, especially in light of the upcoming Federal Reserve meeting. Technical analysis suggests that a daily close below the recent range and the 50-day moving average could indicate bearish momentum. Retail traders are currently holding short positions on USD/JPY, but the contrarian view suggests a possible return to the 150.00 level and beyond.