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FxWirePro: USD/JPY slips as BOJ holds rates steady in split decision

• USD/JPY dipped  on Tuesday  yen firmed   after the Bank of Japan held interest rates steady in a split vote.

• Three in the nine-member board proposed hiking borrowing costs, signalling the bank's concern over inflationary pressures ⁠from the Middle East conflict.

• As widely expected, the central bank left unchanged its short-term policy rate at 0.75% in a two-day meeting that ended on Tuesday. .


• BOJ Governor Kazuo Ueda is expected to ⁠brief media on the decision at 3:30 p.m. (0630 ⁠GMT)..
 
•  Immediate resistance is located at 159.18 (SMA 20), any close above will push the pair towards 159.97(Higher BB).

•  Support is seen at 158.48 (Lower BB) and break below could take the pair towards 157 .29(38.2%fib).

Recommendation: Good to sell around 159.20, with stop loss of 159.80 and target price of 158.60
 

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