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FxWirePro: USD/ JPY slips lower after BoJ Ueda's comments, key support level in focus

 • The USD/JPY slipped lower on Wednesday as  yen firmed after comments from Bank of Japan Governor Kazuo Ueda .

• Bank of Japan Governor Kazuo Ueda stated on Wednesday that the central bank will raise interest rates and adjust monetary support if economic and price conditions continue to improve.

  • Ueda's remark comes a day after BOJ Deputy Governor Ryozo Himino said the central bank would debate whether to raise interest rates at next week's policy meeting..

• At GMT 06:01 the pair was trading down 0.42 percent  at 157.26.
 
• Immediate resistance is located at 158.26(38.2%fib), any close above will push the pair towards 159.70 (23.6%fib).

•  Support is seen at 156.98(50%fib) and break below could take the pair towards 156.00 (Psychological level)

Recommendation: Good to sell  around 157.50, with stop loss of 158.30 and target price of 156.60

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