USD/JPY Weekly Outlook: BOJ Intervention Suppresses Bullish Fundamentals.USD/JPY begins the new week in what feels like perpetual gridlock, with buoyant risk appetite, solid US economic data and an improving backdrop for global economic growth continuing to exert upside pressure on the pair. At the same time, the ongoing threat of BOJ intervention and relentless hopes for an eventual peace agreement between the US and Iran to reopen the Strait of Hormuz have delivered a near-perfect offset, keeping USD/JPY contained to a narrow sideways range just beneath multi-decade highs.