FxWirePro: USD/JPY rises as yen weakens following BOJ's rate hold

• USD/JPY rose on Thursday as the Bank of Japan lowered growth forecasts in light of U.S. tariffs and left rates on hold.

• The Bank of Japan (BOJ) left its benchmark interest rate unchanged at 0.5%, in line with market expectations, signaling a continued cautious stance amid ongoing economic uncertainties.

• The BOJ warned that higher tariffs would negatively impact Japan's economy by slowing global trade, dampening business confidence, and increasing uncertainty and market volatility.

• The Bank of Japan projected real GDP growth of 0.5% for the 2025-26 fiscal year, down from 1.1%.
 
•  Immediate resistance is located at 144.44(38.2%fib), any close above will push the pair towards 145.00(Psychological level).

• Support is seen at 142.92(Daily low) and break below could take the pair towards  142.98(23.6%fib).

Recommendation: Good to buy around 144.30, with stop loss of 143.50 and target price of 145.50