"USD/JPY Rally Sustains Amid BoJ Policy Decision and Fed Focus"

The Japanese Yen's rally continues as the Bank of Japan's policy decision looms, with a potential rate hike driven by recent wage negotiations and the possibility of the Japanese Bank Rate being lifted out of negative territory for the first time in over eight years. The US dollar's strength has pushed USD/JPY back above 149.00, with market expectations of a rate cut at the June FOMC being questioned. The decision on the Japanese Yen's direction hinges on the upcoming BoJ policy meeting and the Fed's latest policy decision.