USD/JPY trades with a mild negative bias around mid-144.00s, downside seems cushioned

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• USD/JPY continues with its struggle to make it through 145.00 and edges lower on Tuesday.
• Intervention fears hold back bulls from placing aggressive bets and exert pressure on the pair.
• The downside remains limited amid the BoJ-Fed policy divergence and ahead of key US data.

The USD/JPY pair struggles to capitalize on the previous day’s positive move back closer to the 145.00 psychological mark and edges lower during the Asian session on Tuesday. Spot prices currently trade around the 144.50 area, down 0.10% for the day, though remain well within the striking distance of the highest level since November 2022 touched last Friday.