FxWirePro: USD/JPY slips but holds above key support, bulls still in control

 • USD/JPY dipped on Thursday as anticipation of a Fed rate cut next month pressured the dollar.

• Investors ramped up bets on a Fed rate cut next month after remarks from New York Fed President John Williams signaled openness to easing.

•This week, the dollar has struggled as Trump ramped up his efforts to influence monetary policy, attempting to oust Fed Governor Lisa Cook and install an ally.

• Meanwhile, BOJ board member Junko Nakagawa warned Thursday that ongoing uncertainty from U.S. tariff policies could hurt business and household sentiment, posing risks to Japan’s and the global economy..

• Nakagawa reaffirmed that the BOJ will continue raising rates if the economy tracks its projections, while emphasizing the importance of cautious data assessment amid rising uncertainties.

• A Reuters poll in August showed nearly two-thirds of economists expect the BOJ to lift its key rate by at least 25 bps later this year, up from just over half in July.

• Immediate resistance is located at 147.92(SMA 20), any close above will push the pair towards 148.22(38.2%fib).

•  Support is seen at 146.15(50%fib) and break below could take the pair towards  145.80(Lower BB.

Recommendation: Good to buy around 147.00, with stop loss of 146.50 and target price of 148.20