USD/JPY: Volatility to Spike with BOJ Meeting

The Yen is likely to see additional volatility over the coming days with the Bank of Japan’s monetary policy decision just a few hours away.

After an unrelenting rally for most of last year, USD/JPY has been trending lower in recent months. While the pair attempt to push above its bearish channel last week, it resulted a false breakout as anticipation for a less dovish BOJ attracted Yen buyers to the market.

This does open the possibility for USD/JPY to test the opposite side of its channel from a technical standpoint. However, near-term direction will likely be determined by today’s BOJ meeting, which could spark big moves whatever the outcome may be.

Check out this article for a deeper insight into some key technical levels to keep an eye on for USD/JPY ahead of today’s decision:

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