USDJPY is trading weak after showing a recovery till 109.28 and shown a decline of more than 100 pips on broad-based US dollar selling. The pair has formed almost a double top around 109.30 and is currently trading around 108.25.
BOJ has kept its rates unchanged and tweaks forward guidance. The central bank hinted it is willing to cut rates to achieve a 2% inflation target. Markets eye US PCE index and Chicago PMI for further direction.
Technically, the near term major support is around 108 and any violation below will drag the pair down till 107.70/107.37.
On the higher side, major resistance stands at 109.30 and a decline from 112.40 will end at 104.40 only if pair breaks 109.30.
It is good to sell on rallies around 108.65-70 with SL around 109.30 for the TP of 107.40.


FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: AUD/USD gains some ground but outlook is bearish
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
FxWirePro- Woodies pivot (Major)
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
FxWirePro- Major Crypto levels and bias summary
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary 



