JPY crosses

BOJ: No major surprises expected

This afternoon’s BOJ monetary policy statement is not expected to bring any surprises although there might be some minor tinkering around the edges with some of the already-announced policies.

USD/JPY is sitting just below a previously important pivot at 99.00 and much of what happens today will depend on this level holding or breaking. Semi-official Japanese interests have been buying dips in the Yen crosses and this could turn out to be a significant event so watch for reports of increasing volumes.

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