USD/JPY session outlook: Waiting for the BOJ
The BOJ’s two-day policy meeting ends today and we should have a policy announcement in early afternoon (no change expected by all 22 economists polled by Bloomberg). The important level to watch is yesterdays highs near 81.55/60 and I believe there is still some decent selling interest near that level. The immediate upside pressure in EUR/JPY has also been eased after the Moody’s French news. I’d play an 81.10/60 range in the short-term.