FxWirePro: USD/JPY edges higher as yen weakens after BOJ's Ueda comments

• USD/JPY edged higher  on Friday as yen weakened after dovish comments by Bank of Japan Governor Kazuo Ueda .

• BOJ Governor Kazuo Ueda adopted a cautious stance on the global economy, dampening hopes for an early rate hike.

BOJ Governor Ueda said inflation is on course to sustainably hit target but flagged global uncertainties • that could weigh on wages, keeping October’s rate decision open.

 • Market participants are scrutinizing Ueda’s remarks for signals on when the BOJ might restart its paused rate-hike cycle amid uncertainty over U.S. tariff impacts.

 • Markets now see over a 60% probability of the BOJ raising rates to 0.75% at its Oct. 29–30 meeting, after a hawkish board split in September and a dovish member’s call for earlier tightening.
 
• Immediate resistance is located at 147.76(SMA 20), any close above will push the pair towards 148.46(38.2%fib).

•  Support is seen at 146.23 (50%fib) and break below could take the pair towards 145.46 (Lower BB)

Recommendation: Good to sell  around 147.40, with stop loss of 148.30 and target price of 146.60