USD/JPY steady as BOJ's Ueda avoids rate hike timeline commitment

USD/JPY remains unchanged at 157.85 following BOJ Governor Ueda's press conference where he declined to comment on near-term rate hike possibilities. The yen showed limited reaction to Ueda's cautious stance, maintaining its recent trading range despite market expectations for potential policy normalization. The governor's reluctance to provide forward guidance reflects ongoing uncertainty about Japan's inflation trajectory and global economic conditions. USD/JPY has been consolidating between 157.50-158.20 over the past week, with traders awaiting clearer signals from the BOJ. The pair's implied volatility has dropped to monthly lows, suggesting markets expect continued range-bound action. Technical analysis shows immediate support at 157.50 (daily pivot) and resistance at 158.20 (weekly high). A break above resistance could target 158.80, while sustained dovish BOJ rhetoric might push the pair toward 159.00 psychological level.