The Bank of Japan´s governor Kazuo Ueda has stated that he hopes that the US debt ceiling solution comes soon.

He added that a US default would have serious consequences for the global economy and that the BoJ will aim to maintain market stability, and will respond flexibly while keeping an eye on the economy, pricing, and financial events.

USD/JPY update

The W-formation on the daily chart is a reversion pattern that sees the bears eyeing the rising trendline support.