• USD/JPY edged lower on Tuesday as yen saw a boost following the Bank of Japan's (BOJ) rate decision.
• The Bank of Japan held rates steady on Tuesday and opted to slow its bond-purchase tapering next fiscal year, signaling a cautious approach to policy normalization.
• Wrapping up its two-day meeting, the central bank held rates steady at 0.5% as expected, with the decision receiving unanimous support from policymakers.
• The BOJ faces a critical juncture in its path toward policy normalization, with aggressive U.S. tariffs undermining Japan’s export sector
• With the BOJ decision out, markets await Governor Ueda’s 0630 GMT press conference for hints on future policy moves.
• Immediate resistance is located at 144.65 (50%fib), any close above will push the pair towards 145.76 (Higher BB).
• Support is seen at 142.98(38.2%fib) and break below could take the pair towards 142.16(Lower BB).
Recommendation: Good to sell around 145.00, with stop loss of 145.70 and target price of 143.50
