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BoJ MonPol Decision Takes Focus

JPY

USD/JPY recouped its greenback-led losses Monday, extending gains into the WMR fix, even as the DXY faltered.

  • Japan's Covid-19 death toll eclipsed 10,000 on Monday, as three of the four prefectures which went into a state of emergency declared daily increases in new infections.
  • The BoJ are set to deliver their latest monetary policy decision & outlook report today, there is no fixed time of the announcement. Click here to access our comprehensive preview of the announcement.
  • Looking further afield, retail sales hit Wednesday, ahead of Friday's major data dump.
  • The rate last sits +6 pips at Y108.14, with bulls looking for a move through the 50-DMA at Y108.36, which would shift focus to Apr 9 high of Y109.96. Bears would be pleased by a dip through Apr 23 low of Y107.48, before taking aim at Mar 4 low of Y106.97.

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