BoJ set to raise interest rate to 1% at June meeting - Nikkei

you have axe your own legs by trying to be oversmart through intervention.

Gold has risen sharply after the release of this news.

The yen remaining above 160 shows that traders are still skeptical that either intervention or a single BOJ rate hike will be enough to reverse the broader trend. Even with reports suggesting the BOJ could raise rates to 1% in June, the wide gap between U.S. and Japanese interest rates continues to favor the dollar.

At the same time, crossing 160 keeps intervention risks elevated. Japan has already spent heavily defending the currency, and officials are unlikely to welcome another sustained move higher. The Nikkei report on a possible rate hike has helped support expectations for policy normalization, but markets seem to want firmer action before giving the yen meaningful support.

For now, the battle is between rising BOJ tightening expectations and persistent dollar strength.

Initial resistance stands at 160.90, while the first support is located at 159.40.

R1: 160.90S1: 159.40
R2: 161.50S2: 158.30
R3: 162.40S3: 157.50

SPIKEEEED UP

Blar blar blar...weak yen is dying and yet still act slowly hesitating blar blar blar. 1% might not be enable to strengthen weak yen and where is your intervention? Talk so much but no action.