USD/JPY rebounds to flat after BOJ Governor Ueda's press conference
USD/JPY erased earlier losses to trade unchanged near 142.50 following Bank of Japan Governor Ueda's post-meeting press conference. The pair had declined 0.3% in Asian trading but recovered during European morning hours, supported by modest dollar strength across the board. Ueda's comments offered no surprises regarding Japan's monetary policy trajectory, maintaining the BOJ's cautious stance on policy normalization. The neutral tone disappointed yen bulls expecting more hawkish signals about potential rate adjustments. Technical indicators show immediate resistance at 143.00 (daily high), while support holds at 142.20 (Asian session low). The pair's reversal reflects broader dollar dynamics rather than Japan-specific factors. Traders await Friday's US economic releases and any further BOJ official commentary that could influence the yen's direction against the greenback.
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