Traders are waiting for the BoJ Monetary Policy on Friday!
USD/JPY experienced a rally up to 135.13 last week but then retreated during the dollar softening. At the start of this week, the initial bias is neutral in the 4-hour chart since the market is waiting for the BoJ interest rate decision that will be released on Friday. Therefore, technically, a further rise is expected if the support level of 132.01 can be held. On the upside, if 135.13 is broken, the rebound will continue from 129.62 to the next resistance level of 135.73. Conversely, the support of 132.01 was broken; it may go further down to 131.61.
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