• USD/JPY dipped on Thursday as hawkish expectations for the BoJ’s policy stance boosted Japanese yen.
• Bank of Japan Deputy Governor Shinichi Uchida indicated that rate hikes could follow market expectations, maintaining the possibility of a near-term increase in borrowing costs.
• Japanese Prime Minister Shigeru Ishiba stated on Thursday that the high tariffs imposed by U.S. President Donald Trump's administration would hinder investments in the United States.
• Ishiba emphasized the need to highlight how Japanese investments not only benefit Japan but also support U.S. job creation and economic growth, a point he reiterated during last month’s summit with Trump.
• At GMT 12.54,the dollar was down 0.77% at 149.16 against Japanese yen .
• Immediate resistance is located at 148.55 (50%fib), any close above will push the pair towards 149.54(61.8%fib).
• Support is seen at 147.52(23.6%fib) and break below could take the pair towards 146.49(Lower BB ).
Recommendation: Good to sell around 147.80, with stop loss of 148.60 and target price of 147.00
