• USD/JPY strengthened on Tuesday as Japanese yen weakened amid risk-on sentiment spurred by Wall Street's gains overnight.
• Looking ahead, the Bank of Japan is expected to keep interest rates unchanged on Wednesday while assessing the risks that the escalating U.S. trade war poses to Japan’s export-driven economy.
• The BOJ is set to maintain its short-term policy rate at 0.5% at a two-day meeting that ends on Wednesday.
• At GMT 06.26,the dollar was up 0.46% at 149.82 against Japanese yen .
• Immediate resistance is located at 15000 (Psychological level), any close above will push the pair towards 150.78(50%fib).
• Support is seen at 149.28(38.2%fib) and break below could take the pair towards 147.37(23.6%fib ).
Recommendation: Good to buy around 149.70, with stop loss of 149.00 and target price of 151.00
