MUFG Research discusses its expectations for this week's BoJ policy meeting.
"The BoJ meeting this week is unlikely to be a catalyst for any upturn in JPY volatility. Those risks are firmly linked to general risk appetite and expectations on monetary policy elsewhere. Hence, the semi-annual speech by Fed Chair Powell on Wednesday will be more important than the announcement from the BoJ," MUFG notes.
"We still see near-term USD/JPY risks skewed to the downside for now," MUFG adds.