FxWirePro: USD/JPY retreats slightly but trend is still bullish

 • USD/JPY eased slightly on Thursday  as weaker greenback and BOJ  rate hike uncertainty supported yen.

•Japan's real wages fell for the ninth consecutive month in September as resurgent inflation outgrew nominal pay, government data showed on Thursday, highlighting the wage-price gap that complicates the Bank of Japan's (BOJ) rate hike plans.

• Inflation-adjusted real wages, a key determinant of household purchasing power, decreased 1.4% in September from a year before, the labour ministry data showed.

•New Japanese Prime Minister Sanae Takaichi said on Tuesday that the country has not yet seen sustainable inflation alongside wage growth, indicating her preference for a cautious approach to interest rate hikes by the central bank.

• The BOJ kept interest rates unchanged at its October 29-30 policy meeting, with Governor Kazuo Ueda signaling that the wage outlook for 2026 will be a key factor in determining the timing of future rate moves.

• Immediate resistance is located at 154.40(23.6%fib), any close above will push the pair towards 154.92(Higher BB).

•  Support is seen at 152.44 (SMA 20) and break below could take the pair towards 152.20 (38.2%fib)

Recommendation: Good to buy  around 153.50, with stop loss of 153.00 and target price of 155.00