G20 coming up and Yen under scrutiny – BTMU

By FXStreet Analysts at Bank of Tokyo Mitsubishi explained that USD/JPY has stayed around 114 this week after plummeting to nearly 110 last Thursday, and will likely solidify at the present level next week.

Key Quotes:

“JPY cash repatriation and exporter flows will likely cap USD/JPY topside, while any drop will probably be limited by a G-20 commitment to support financial stability this weekend.

Today, Bank of Japan Monetary Policy Board member Koji Ishida clarified his policy views and decision at the January BoJ meeting.

Next week, another BoJ Board member, Takahide Kiuchi, is scheduled to speak publicly and may explain his decision and stance, which could help to calm market tension.”
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Source:: FX Street