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FxWirePro: USD/ JPY drifts lower as BOJ's Ueda bolsters yen

• USD/JPY dipped  on Friday as the yen strengthened after Ueda's comments suggested possible upcoming rate hikes. 

• Bank of Japan Governor Kazuo Ueda reaffirmed   his commitment to raise interest rates if inflation continues to trend towards a sustainable 2% target.

• A daily close below 38.2%fib will further improve bearish outlook, and open the possibility of drop towards 144.00.
 
• Immediate resistance is located at 146.65 (50%fib), any close above will push the pair towards 147.00 (Psychological level).

•  Support is seen at 145.01 (38.2%fib) and break below could take the pair towards 144.46 (Aug 21st low).

Recommendation: Good to sell  around 145.40, with stop loss of 146.00 and target price of 144.00

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