FxWirePro: USD/JPY falls below 148.00 level, bears keep the advantage

• USD/JPY dipped o Thursday as  weaker dollar and expectations that Bank of Japan (BOJ) is expected to keep rates steady at next week's policy meeting increased  demand for  safe haven yen  .

• The Bank of Japan is expected to keep its key interest rate steady at its March 19 meeting, with over two-thirds of economists expecting a 25-basis-point hike to 0.75% in the third quarter, most likely in July

• BOJ policymakers expect wage gains to broaden and underpin consumption, allowing the central bank to keep increasing its short-term policy rate from the current 0.5%.

•  At GMT 07:35,the dollar was down 0.21% at 147.90 against Japanese Yen .

•  Immediate resistance is located at 148.69(38.2%fib), any close above will push the pair towards 149.22 (March 12th high).

•  Support is seen at 146.93(23.6%fib) and break below could take the pair towards 145.54(Lower BB ).

Recommendation: Good to sell around 148.00, with stop loss of 148.50 and target price of 147.30