USD/JPY forecast: Yen targets 150 as chips drive Japan exports higher

The Japanese yen wavered on Wednesday as investors reacted to the ongoing bearish bets on the US dollar, soaring Japanese exports, and wait for the upcoming Japanese consumer inflation report. The USD/JPY exchange rate was trading at 153.55 on Wednesday, down by nearly 4% from its highest level this year. Japan exports jump, inflation report ahead  The USD/JPY exchange rate wavered after a report by the Finance Ministry showed that Japan's exports jumped in January, helped by the ongoing AI boom, which helped to offset the slowing auto sector. Japan’s exports rose by 16.8% in January from the same period last year, higher than the median estimate of 13%. Computer chips shipments rose by 40%, with most of them moving…