• USD/JPY dipped on Monday as traders engaged in position adjustments ahead of a key week for global monetary policy.
• Investors eye a packed week of central bank meetings across the U.S., Japan, Taiwan, Indonesia, the U.K., Canada, and Norway.
• The Fed takes the spotlight, as a quarter-point rate cut is broadly anticipated on Wednesday, alongside scrutiny of its forward guidance for 2025.
• Meanwhile, BOJ is widely expected to hold rates at 0.5% on Friday while signaling its readiness to raise rates again in Q4 as inflationary pressures persist.
• Immediate resistance is located at 148.09(38.2%fib), any close above will push the pair towards 148.71 (Higher BB).
• Support is seen at 146.43(Lower BB) and break below could take the pair towards 145.86 (50%fib ).
Recommendation: Good to buy around 147.30 with stop loss of 146.50 and target price of 148.50
