BoJ kept rate unchanged but a rate hike remain on the tableUSD/JPYOANDA:USDJPYWiseLeoTradingBoJ kept the interest rate at 0.75% with an 8-1 vote. The statement noted that easing rice prices may decrease Core CPI well below the 2.00% target. However, BoJ monitors the recent oil price spike to bolster inflation, as Japan's 95% reliance on Middle Eastern oil imports poses supply disruption risks. Despite this, BoJ remains on track for a rate hike next month, as robust household income supports consumption and policy normalization. Meanwhile, the yen approaches previous intervention levels, prompting BoJ warnings of potential action. However, the oil price surge bolstered the US dollar, complicating MoF intervention. Consequently, intervention may occur if the US dollar weakens while the yen remains soft. Technically, USDJPY trades above EMA21 and EMA78, indicating persistent upside momentum. If the price breaches 159.70, it may advance toward the next resistance at 160.30. Conversely, remaining under 159.70 could lead the price to find support at 158.70. By Van Ha Trinh - Financial Market Strategist at Exness