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USD/JPY Rises Ahead of BoJ

JPY

Seeing a touch of weakness in yen ahead of the BoJ decision, USD/JPY last up 20 pips at 103.30. After the pairs precipitous fall there is little in the way of substantial resistance, MNI technical analysis discerns initial resistance is at Thursday's high of 103.56.

  • There are some large option expiries in USD/JPY on Friday, $373m at 103.50, $614m at 104.00 and $431m at 104.25.
  • Some reports from Japan that the Bank of Japan is expected to state it is examining factors delaying hitting its 2% target for inflation, the bank will release its rate announcement between 0230-0330GMT(1130-1230JST)
  • Elsewhere Chief Cabinet Sec. Kato has said will watch price levels with regard to the virus situation.