Overall, USD/JPY is trending downwards. Recently, USD/JPY bounced off the support zone of 104.200. The Bank of Japan (BoJ) will be announcing their monetary policy decision later at a tentative timing. It is likely that the central bank will keep their monetary policy unchanged.
Also, a press conference will be held after the monetary policy decision. During this time, volatility is expected. Currently, USD/JPY is bouncing off the support zone of 104.200 and the next resistance zone is at 106.300.
Look for short-term selling opportunities of USD/JPY if it breaks the support zone of 104.200.



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