Important Events Today:

14:00 UTC: USD – University of Michigan Consumer Sentiment Index.

The USDJPY pair is gaining strength around 158.00 during Asian trading on Friday. The pair is rising after the Bank of Japan (BoJ) announced its policy decision.

Reports from Nikkei indicate that the Bank of Japan is considering reducing the volume of its government bonds. Currently, the Bank of Japan plans to purchase bonds amounting to around 6 trillion yen (approximately $38.5 billion) monthly. The central bank has announced plans to buy bonds in the range of 4.8 to 7 trillion yen per month.

Federal Open Market Committee (FOMC) policymakers have adjusted their forecasts, now expecting only one rate cut this year compared to the three cuts forecasted in March. This revision suggests a more aggressive approach to inflation management and economic stability, which supports the stability of the US dollar.

Investors await the release of the preliminary University of Michigan Consumer Sentiment Index in the US on Friday. This index will provide additional information on consumer confidence and economic outlook.

Recommendations: Trading predominantly with Buy orders from the current price level.