USD/JPY falls for fifth straight session as Fed holds meeting

USD/JPY tilted lower in Asian trade to March 13 lows amid a lack of data from Japan and ahead of US data, while the Federal Reserve wraps up its two day policy meeting. 

As of 05:51 GMT, USD/JPY fell 0.01% to 105.08, with a four-month trough at 104.96. 

From the US, the goods trade balance is expected to show a $75.5 billion deficit, up from $74.3 billion in May, while wholesale inventories are expected down 0.4% in June. 

Pending home sales are expected up 15.6% in June, compared to a 44.3% surge in May. 

The Federal Open Market Committee is wrapping up its policy meeting today, expected to maintain rates at near zero to support borrowing through December. 

The Fed extended the duration of loan support from September to December to bolster the economy during the pandemic, noting the move has already helped the labor sector, households, and companies considerably.