The USD/JPY currency pair is currently retesting the resistance level of an upper channel trendline, supported by a bullish signal as its 100-day moving average crosses above the 200-day moving average. A break above this resistance could pave the way for targeting 145.20. On the fundamental front, the Federal Reserve’s hawkish stance, as indicated by remarks from Fed Governor Christopher Waller and Richmond Fed President Thomas Barkin, suggests that additional monetary tightening may be on the cards due to persistent core inflation. Additionally, Treasury yields remained relatively stable with marginal increases in the two-year and ten-year yields, offering slight relief to the US dollar after its recent decline following the Federal Open Market Committee (FOMC) meeting. Meanwhile, the Bank of Japan (BoJ) maintained the status quo by keeping rates unchanged and continuing its yield curve control policy. Any alteration to the BoJ’s policy would be unexpected and likely to have a significant impact, but for now, their prediction of subdued inflation in the coming months implies that changes are not imminent.