• USD/JPY dipped slightly on Wednesday as market focused on the Federal Reserve’s policy decision later in the day and the Bank of Japan’s meeting on Friday.
• The Fed is set to trim rates by 25 bps to 4.00%–4.25% on Wednesday, with markets watching Powell’s guidance on policy outlook.
• Meanwhile, at the two-day gathering ending on September 19, the BOJ is widely expected to keep interest rates steady at 0.5%.
• Markets are focusing on Ueda's post-meeting press briefing for hints on how soon the BOJ could resume rate hikes, paused since January as policymakers scrutinise the impact of tariffs
• Immediate resistance is located at 147.45(SMA 20), any close above will push the pair towards 147.73 (50%fib).
• Support is seen at 147.24(61.8%fib) and break below could take the pair towards 146.00 (Psychological level ).
Recommendation: Good to sell around 146.60 with stop loss of 147.30 and target price of 145.80
