• USD/JPY flirting with session highs at 117.60 following BOJ’s unchanged monetary policy decision.
   
• Yen failed to benefit from the BOJ’s latest upward revision to its economic assessment.
   
• BOJ upgraded Japan's economic assessment, said Japan's economy continues to recover moderately as a trend and is likely to turn to moderate expansion.
   
• Risk-on flows add to the ongoing weakness in the safe-haven yen.
   
• Major Support - 117.57 (5-DMA), 117.22 (1H 100-SMA), 117
   
• Major Resistance - 118, 118.42 (Dec 16 high), 118.66 (Dec 15 high)
   
• Focus now on BOJ Kuroda’s presser, which will likely throw fresh light on the central bank’s decision. 
   
• Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-hovers-around-5-DMA-support-at-117-break-below-to-target-116-456867) has hit TP1.
   
• Bearish invalidation above 118 levels.