USD/JPY reacted sharply to the US-Iran diplomatic breakthrough, driving the pair lower as markets reassess Fed tightening prospects amid easing inflation and falling oil prices. The upcoming BoJ meeting is pivotal, with a likely 25 bps hike and a possible pause in bond tapering expected to shape market sentiment. Technical patterns show consolidation within a symmetrical triangle, suggesting potential volatility depending on the BoJ's tone and market reaction. Traders should watch for a break above the triangle to target 162.00 or a breakdown toward 158.00, influenced by central bank cues and risk sentiment shifts.