USD/JPY is maintaining an upward trend.USD/JPYOANDA:USDJPYParadise_NoirUSDJPY is currently maintaining a fairly clear bullish trend, with the price consistently creating higher lows and closely following the short-term uptrend line. After the sharp correction at the beginning of May, buyers quickly pushed the price back above the EMA34 and EMA89, indicating that demand is still controlling the market. Notably, the 158.20 level is acting as extremely important immediate support. If the price continues to hold above this area, USDJPY is highly likely to extend its upward momentum towards the target of 160.60 in the coming sessions. In terms of news, the USD is strongly supported by high US bond yields after US inflation continued to be hotter than expected. The market has now almost ruled out the possibility of the Fed cutting interest rates this year, causing capital flows to continue favoring USD over JPY. Meanwhile, the BOJ continues to maintain an extremely loose monetary policy, creating a large interest rate differential between the US and Japan — a factor that continues to support the upward trend of USDJPY. Currently, as long as the price remains above the 157.60 – 158.20 range, the short-term uptrend is still considered dominant.