There is some speculation that the BOJ statement might contain some surprises and this might explain the weight of USD/JPY buying which we’ve seen over the last week or so from big professional accounts. All Central Banks seem to be back in the race to call their currencies to the bottom so it would be no surprise to hear a more dovish BOJ.
I’m avoiding the Yen pairs at the moment; after last week’s big risk aversion move to be suddenly furiously selling the Yen- not for me thanks!