Core Viewpoint - The current strength of the USD/JPY exchange rate reflects a structural shift in market confidence rather than a short-term technical rebound [1] Group 1: Economic Factors - The USD is favored due to the resilience of the US economy, with traders believing that the Federal Reserve is a credible central bank capable of maintaining restrictive monetary policy when necessary [1] - The Japanese yen is under pressure due to growth concerns, as investors perceive the Bank of Japan's normalization process to be slow and cautious [1] Group 2: Market Trends - The USD/JPY currency pair may continue its upward trend, although policy risks are increasing [1] - If the depreciation of the yen accelerates sharply, intervention actions may be taken by Tokyo [1]