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USD/JPY chart - Trading View
USD/JPY was trading 0.39% higher on the day at 103.46 at around 05:40 GMT, scope for further upside.
The Bank of Japan (BOJ) left its monetary policy setting unchanged at its policy review meeting earlier on Friday.
The central bank left the key rate unchanged at -10bps while maintaining a 10yr JGB yield target at 0.00%.
The board noted that Japan's economy is picking up but pace of recovery is likely to be moderate and added that corporate funding will continue to remain under stress.
Technical bias for the pair remains strongly bearish. But oversold oscillators are showing a rollover from oversold levels suggesting minor pullbacks.
The pair is currently testing immediate resistance at 5-DMA at 103.52. Break above will fuel further upside.
