The USD/JPY was firm at the 123.00 level and moved t test 123.20 from 122.85 following the Bank of Japan monetary policy announcement as the yen showed a modest decline.
The Bank of Japan maintained its massive stimulus monetary policy and its upbeat assessment of the economy, a gesture of its conviction that growth may improve and perhaps meet its 2 percent inflation target without more easing measures. (3:04 GMT)
The BOJ also kept its pledge to increase the base money stimulus at 80 trillion yen ($650 billion) annualy through asset purchases. The BOJ officials unanimously voted 8-1.
Chart: WorldWideMarkets Alpha Trader