YEN DROPPED but worried about BOJ

Some news on the wire
source :(bloomberg)
Yen Falls After Hawkish Fed, Awaits BOJ Decision: Inside Japan
By Chikako Mogi
(Bloomberg) -- Yen falls after the Federal Reserve raised rates and provided a more hawkish outlook for its future rate path. Government bonds are likely to follow Treasuries higher ahead of the Bank of Japan’s decision. 
USD/JPY up 0.2% at 144.31 after rising as much as 0.7% to 144.70 Wednesday
Short-term bullish flag forming and sets up for a breach of 145
USD is strengthening after hawkish FOMC and if BOJ stands pat, USD/JPY may rise toward upper 144 levels, says Yuta Suzuki, vice president at MUFG Bank in New York
If BOJ’s Kuroda changes his tone over the weak yen or suggests that the weak yen may impact monetary policy, USD/JPY could drop by 1 yen
Dot plot suggests Fed is determined to keep policy rate above 4% next year regardless of economic conditions
While intervention wariness remains, traders may need to raise their buying levels from around 140 if probability of monetary policy action from Japan is low

daily chart




4h


overall BULLISH