USD/JPY likely to remain under pressure; sell rallies

USD/JPY is likely to extend losses in the near-term as speculators continue to cover short JPY positions
Many traders expected further MonPol easing by the BoJ, but the central bank only expanded its programme slightly, by increasing its ETF purchases
USD/JPY remains a sell-on-rallies
Immediate resistance is seen at 101.45/50 and will likely attract decent selling interest
Strong resistance noted at 102.00 and 102.70