The BOJ left its monetary policy.........>

DOLLAR-YEN: The BOJ left its monetary policy settings unchanged as expected, but

JPY has been on the back foot after the BOJ downgraded its view on inflation,

some had suggested that this could happen. There was no change elsewhere, with

an 8-1 vote, and Kataoka the lone dovish dissenter as ever.

- USDJPY printed a high of Y110.80, just shy of Y110.84 (the high from June 13),

last at Y110.75. The next level of resistance above 110.84 comes at 110.93

(1.618% swing Y110.27-109.20). Support comes in at Y110.25 (200 DMA), followed

by Y110.24 (hourly support from June 14).

- Nearby notable FX option expiries of note for today's 10AM NY cut: Y110.00

($876mln), Y110.50($1.18bn), Y111.00-05($1.77bn).