USD/JPY at three-week highs as buyers look for further upside

<p>The pair is now trading at the highs for the day with gains stretching to roughly 100 pips. The levels above 142.00 are the highest since 10 July and if buyers can keep that up ahead of the daily close, it will open up the path towards 145.00 next again potentially.</p><p>The technicals are not working out for yen bulls right now and the verdict after the BOJ seems to be that traders are not convinced by the supposed <a href="https://www.forexlive.com/news/a-look-at-how-the-boj-has-adjusted-its-yield-curve-control-program-20230728/" target="_blank" rel="follow">adjustment to the yield curve control policy</a>. But I would argue it is more so that traders are not convinced by the BOJ's management of its communication as highlighted earlier <a href="https://www.forexlive.com/news/the-japanese-yen-still-has-that-post-boj-hangover-20230731/" target="_blank" rel="follow">here</a>.</p>

This article was written by Justin Low at www.forexlive.com.