USD/JPY Breaks Above 157.40 Following BoJ Decision

Following the Bank of Japan's decision to keep interest rates unchanged, the USD/JPY pair broke above the 157.40 level with strong momentum. The initial support level at 157.40 has now become the first support level after being breached. Below this level, potential support levels include 157.00 and 156.60. On the upside, the first resistance level is at 158.50. Above this level, key levels to watch are 159.00 and 160.00.