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It is largely predicted that BOJ would maintain its current monetary policy. During Friday's Asian session, USD/JPY extends the rebound from the weekly low while replenishing intraday highs around 133.30.

In doing so, the yen pair extends the rebound from the 100-day simple moving average while nearing a one-week-old horizontal resistance zone encompassing 133.50-60.

Given the RSI's comeback from oversold territory and the diminishing negative bias of the MACD, the USD/JPY exchange rate is expected to sustain its recent recovery.

However, a downward sloping resistance line from Tuesday around 133.95 and the 134.00 threshold will work as additional upside filters to test the pair buyers, in addition to the immediate 133.50-60 zone.

In addition, the Bank of Japan (BOJ) is anticipated to maintain its easy-money policy, which may add to USD/JPY upward gain.

Alternately, corrective movements might be elusive till the price remains above the 100-SMA level of 131.40.

After that, the 200-day simple moving average (SMA) and the swing high from early June, around 130.25-20, might test USD/JPY bearish.

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