Technical Analysis

Forecasts for the BOJ meeting today & the yen

These come via a Bloomberg report (gated):

  • “The rapid yen depreciation will not deter the Bank of Japan from keeping monetary policy settings unchanged at its meeting today,” Carol Kong, an economist and currency strategist at Commonwealth Bank of Australia, wrote in a note Friday. “Today’s BOJ meeting will likely be the catalyst for a recovery in dollar-yen.”
  • “One reason for shrinking yen short positions may be due to expectations global central banks may not be as aggressive about rate hikes as before,” said Yuji Saito, senior advisor at Credit Agricole CIB’s global market division in Tokyo. “There may also be expectations that pressures on the BOJ may mount as CPI is rising and wages are also expected to increase next year.”



Statement due soon (expect it in the 0230 to 0330 GMT time window),

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