• USD/JPY slipped on Friday amid lingering intervention risks tied to excessive Yen weakness.
• Japanese Finance Minister Katayama said all options remain on the table to address the yen’s slide to a 1½-year low.
• Japan’s curency also face uncertainty as PM Takaichi dissolves parliament and the central bank prepares for a policy decision.
• PM Takaichi is expected to brief ruling bloc officials on Jan. 19 about the dissolution of the lower house.
• The yen has dropped almost 5% against the dollar since Sanae Takaichi became prime minister in October, amid investor concerns over her spending plans.
• Immediate resistance is located at 159.29(23.6%fib), any close above will push the pair towards 159.65 (Higher BB).
• Support is seen at 158.00(Psychological level) and break below could take the pair towards 157.07 (SMA 20)
Recommendation: Good to buy around 158.30, with stop loss of 157.50 and target price of 159.50
