The Japanese yen stuck at a lower level versus the greenback at 155 on Thursday as BOJ starts its two consecutive day meeting for deciding the interest rate trajectory, making traders to stay on edge as whether Tokyo will step in during the course of policy discussions.

Trading in a narrow range during the previous days, a strengthened greenback eventually hit above 155-yen level that was not seen since 1990 in the earlier session.

On Thursday, the US dollar touched once again 34-year peak of 155.74 yen.

Wide projections that the Japanese government will likely step in to edge up the yen halted the greenback’s advance heading to the crucial psychological level, several market participants perceived it as a red line that would force Tokyo to move.

Following its historic move away from negative interest rates last month, the Bank of Japan is expected to maintain its short-term interest rate target at the end of its meeting on Friday.