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• The USD/JPY slipped lower on Monday as the safe-haven appeal and growing expectations of a January rate hike by the Bank of Japan supported the yen .
• The BOJ asserts that significant wage growth is a prerequisite for raising interest rates, with some analysts expecting a possible hike this month.
• In a positive sign, wage data released earlier on Thursday showed base salary, or regular pay, rose 2.7% in November to mark the fastest increase since 1992.
• At GMT 11:08 the pair was trading down 0.27 percent at 157.26.
• Immediate resistance is located at 157.09(Daily high), any close above will push the pair towards 158.30 (23.6%fib).
• Support is seen at 156.06(38.2%fib) and break below could take the pair towards 155.80 (50%fib)
Recommendation: Good to sell around 157.30, with stop loss of 158.00 and target price of 157.00
