USD/JPY consolidates around mid-146.00s, bulls have the upper hand near YTD peak

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• USD/JPY holds steady just below its highest level since November 2022 touched on Friday.
• The divergence Fed-BoJ policy outlook continues to lend some support and favours bulls.
• Intervention fears turn out to be the only factor acting as a headwind and capping the upside.

The USD/JPY pair kicks off the new week on a subdued note and oscillates in a narrow trading band around mid-146.00s through the Asian session, just below its highest level since November 2022 touched on Friday.