The USD/JPY was in a bullish reversal attempt during the 6/15 session after the Federal Reserve announced a rate hike of 25 basis points to the 1.00-1.25% range. At the start of the 6/16 Asian session, the Bank of Japan (BoJ) concluded its monetary policy meeting, and held the benchmark interest rate at -0.10%. Here's a report from marketwatch.com: TOKYO — The Bank of Japan left policy unchanged Friday, maintaining its aggressive monetary stimulus aimed at lifting inflation, which continues to show weakness despite brighter spots elsewhere in the economy. The decision reaffirming the central bank’s ultra-easy stance comes less than two days after the Federal Reserve raised interest rates for the third time in six months despite renewed weakness in U.S. inflation. The Fed also gave more details on how it plans to trim its balance sheet, a topic that Japan’s central bank is gradually starting to talk about after months of insisting that it was still too early to discuss. The BOJ board voted to keep its target for 10-year Japanese government bond yields at around zero and a shorter-term interest rate at minus 0.1%, as widely expected by economists. The bank also reiterated that it would continue to buy government bonds at an annual pace of about ¥80 trillion ($720 billion). Controlling short- and long-term interest rates has become the bank’s principal policy tool since a revamp of its measures last September, but the passage on its bond purchases is seen by investors as a symbolic gauge of the bank’s commitment to its easing policy. The actual rate of purchases has fallen well below the ¥80 trillion annual pace in recent months. As the Federal reserve anchors onto a hawkish, tightening campaign, the BoJ is remaining dovish, loose. This classic divergence in central bank policy put upwards pressure on the USD/JPY and helped extend this week's bullish reversal swing.USD/JPY 4H Chart (click to enlarge) Bullish Breakout:- The 4H chart shows USD/JPY in a bullish breakout against a prevailing bearish trendline. - The 112.00 handle is in sight, and we should anticipate some resistance at this level.- At this point, if USD/JPY has indeed turned bullish, it should hold above 110.00 on a pullback. If so, the 114-114.30 highs from May will be in sight. - After 114.35, the 115.60-116 area would be the next area of resistance.