• USD/JPY firmed on Friday as after BOJ raise policy rate to 0.75% from 0.5% as widely expected.
• The move underscored the central bank’s confidence that Japan is on track to sustainably meet its 2% inflation goal, supported by wage growth, and remains ready to continue normalising monetary policy.
• The Bank of Japan raised interest rates on Friday to levels not seen in three decades, marking another landmark step in unwinding decades of massive monetary stimulus and near-zero borrowing costs.
• As anticipated, the central bank unanimously lifted short-term interest rates from 0.5% to 0.75%.
•Data released on Friday showed core consumer inflation hit 3.0% in November, steady from the previous month and well exceeding the BOJ's target.
•BOJ Governor Kazuo Ueda will hold a news conference to explain the decision at 3:30 p.m. (0630 GMT).
• Immediate resistance is located at 156.93(Higher BB), any close above will push the pair towards 157.47(23.6%fib).
• Support is seen at 155.14 (38.2%fib) and break below could take the pair towards 154.74 (Lower BB)
Recommendation: Good to buy around 155.70 with stop loss of 154.50 and target price of 156.80
