• USD/JPY edged higher but gains were limited as market focused on Bank of Japan's policy decision on Thursday.
• The Bank of Japan is expected to maintain interest rates on Thursday, citing growing risks to the fragile economy, with U.S. tariffs continuing to affect confidence.
• Trump's fluctuating tariffs have shaken financial markets, prompting policymakers, including those from Japan, to seek concessions from Washington.
• At its two-day meeting ending Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5%.
• At GMT 06: 40, the US dollar was last trading up 0. 18% at 142. 80 Japanese yen.
• Immediate resistance is located at 143.00 (Psychological level), any close above will push the pair towards 144.25(38.2%fib).
• Support is seen at 140.71 (23.6%fib) and break below could take the pair towards 139.64(Lower BB).
Recommendation: Good to sell around 142.80, with stop loss of 143.50 and target price of 142.00
