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FXstreet.com (Barcelona) - The latest headlines are suggesting that the BOJ policy statement, normally due out between 02:00 and 04:00 GMT, will likely be published no earlier than 03:00 - 03:30 today.

The meeting is reportedly underway since 8am Japan time, one hour earlier than usual. However, today marks the first of many judgement days for Abe's government. They know they have to deliver on its endless verbal commitments, thus many considerations will certainly make the time of announcement quite tricky and a delay may be expected.

Yen traders should note that in the BoJ meeting, there is a well-known pattern by which the longer it takes for the monetary policy statement to be published, the more indicative it is that unorthodox policies are being weighed up, thus start expecting some Yen depreciation sometime between 3:30 and 4GMT if the announcement is not yet out.

Traders should also note that the joint BoJ/Government policy statement is likely to be released some hours after the first BoJ policy communique, which implies that an early overdone Yen reaction will not be conclusive of the market sentiment until the much-anticipated joint statement is out, which will help to define the main bullet points on the BoJ/Gvrt policy intentions.
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