• USD/JPY steadied on Thursday as the market absorbed the U.S. CPI data, while uncertainty about the timing of potential interest rate hikes by the Bank of Japan kept investors cautious .
• The BOJ is leaning toward keeping rates steady, as policymakers want more time to assess overseas risks and gather insights on next year's wage outlook.
• Investors are now looking to Friday's Japanese business confidence statistics for more insight into the country's economic outlook.
• Immediate resistance is located at 151.71 (23%fib), any close above will push the pair towards 153.19 (Nov 27th high).
• Support is seen at 149.54 (38.2%fib) and break below could take the pair towards 147.81(50%fib).
Recommendation: Good to buy around 152.00, with stop loss of 151.20 and target price of 153.00
