Ueda basically tried to downplay inflation risks and USD/JPY sellers have now spurned their chance to keep a lid on price action on the day. The pair has pared all losses to move up to 149.70 with eyes now on a potential break of its 200-day moving average (blue line):The higher revision to the BOJ's inflation forecasts did invite traders to think that the central bank would position more hawkishly. However, Ueda did not outright confirm nor deny that they are back on track to hike rates again by year-end.That said, I wouldn't have expected him to in the first place. The BOJ has a pension for playing it safe and it's not the first time that Ueda & co. has disappointed markets. Think back to when they were in the initial stages of hiking rates and how long it took for them to finally get to the point.In any case, the USD/JPY chart is going to be an interesting one now. Buyers will have a tall order going into month-end as they need to take out both the 200-day moving average at 149.51 as well as the 150.00 mark to solidify a breakout move next.That's the big technical spot to get through if we are to see any upside move hold towards the latter stages this week. This article was written by Justin Low at investinglive.com.