• USD/JPY traded flat on Thursday as investors looked ahead to the upcoming U.S. PCE data for clearer direction.
• Bank of Japan Governor Kazuo Ueda stated last week that the BoJ will consider a rate hike next week, guided by its updated quarterly growth and inflation forecasts.
• Ueda cited uncertainty over the domestic wage outlook and Trump's policies as reasons to hold off raising rates last month.
•At GMT 09:28, the pair was trading down 0.01 percent at 156.50 after reaching daily high at 156.75
• Immediate resistance is located at 156.74 (38.2%fib), any close above will push the pair towards 155.22 (50%fib).
• Support is seen at 155.22 (50%fib) and break below could take the pair towards 153.50 (61.8%fib).
Recommendation: Good to sell around 156.80 with stop loss of 157.40 and target price of 156.00
