Investing.com - The dollar moved higher against the yen on Wednesday, regaining ground after the yen briefly touched session highs when the Bank of Japan kept monetary policy unchanged.
USD/JPY was up 0.15% to 104.44, after falling to lows of 103.97 earlier in the session.
The pair was likely to find support at 103.85, the low of January 20 and resistance at 104.73, Tuesday’s high.
The BoJ kept monetary policy unchanged following its monthly policy meeting and maintained its assessment that Japan''s economy "has continued to recover moderately."
Demand for the dollar continued to be supported by expectations for a reduction to the Federal Reserve’s quantitative easing program at its policy meeting next week to USD65 billion from the current USD75 billion.
Meanwhile, the euro was little changed against the yen, with EUR/JPY dipping 0.04% to 141.38, after falling to session lows of 104.02 following the BoJ announcement.
The euro was also steady against the dollar, with EUR/USD edging down 0.03% to 1.3556.