BOJ Hike Fails to Lift Yen, Traders Eye Next Resistance at 158.05
USD/JPY traded near 157.45 at 09:30 GMT+8 on Tuesday, September 22, holding just below the 61.8% Fibonacci retracement at 157.536.
The pair is consolidating after the Bank of Japan's 25-basis-point hike to 1.25% on September 18 produced a sharp swing between 156.656 and 158.05.
The yen fell more than 2% last week and then consolidated near 157 on Monday as Japan entered a three-day holiday.