Chart - Courtesy Trading View
USD/JPY was trading 0.16% lower on the day at 130.58 at around 04:20 GMT.
The pair closed a whopping 1.85% higher in the previous session and is on track to close over 7% higher for the month.
The Japanese yen battered on Thursday after an extremely dovish BoJ, boosting upside in the pair.
The Bank of Japan (BOJ) on Thursday showed readiness for unlimited bond-buying to maintain the yield target.
The central bank cited sustained inflation below the 2.0% target and its economic forecasts lacked optimism, further weighing on the pair.
Russia-Ukraine crisis join China’s covid concerns to weigh on the risk appetite and support the US dollar’s safe-haven demand.
Focus now on US Core Personal Consumption Expenditures Price Index for March, expected to ease to 5.3% YoY from 5.4% in the previous month.
Major Support Levels:
S1: 128.99 (5-DMA)
S2: 128.49 (200H MA
Major Resistance Levels:
R1: 131.10 (Upper BB)
R2: 132
Summary: USD/JPY trades with a bullish bias. Pullbacks if any on account of overbought conditions are likely to be shallow. Scope for test of 135 levels.


FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro- Major Pair levels and bias summary
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
FxWirePro- Major Pair levels and bias summary
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices 



