The recent ceasefire agreement between the US and Iran has triggered a notable sell-off in the US dollar, boosting risk appetite and pressuring USDJPY toward key support at 157.65. This level is pivotal; a bounce could target 162.00, while a break below may extend losses toward 155.00. Market expectations now incorporate modest Fed easing by year-end, reflecting improved geopolitical stability. Meanwhile, the BoJ is expected to hold rates steady in April, with a potential hike on the horizon if the regional outlook improves. Traders should monitor USDJPY closely for signs of either consolidation or a decisive move in the coming sessions.