Chart alert: USD/JPY bullish break above 161.95 signals further yen weakness

USD/JPY has broken decisively above the critical 161.95 resistance level, signalling a continuation of its medium-term bullish trend despite repeated verbal intervention from Japanese officials. A widening US-Japan yield differential, expectations of further Federal Reserve tightening, Japan's expansive fiscal stimulus, and persistent foreign capital inflows into Japanese equities continue to weaken the yen.