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FxWirePro: USD/JPY remains within a narrow range as attention shifts to BOJ rate decision

• 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

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