Forex Flash: USD/JPY price action suggests a correction – TDS

FXstreet.com (Barcelona) - Few moments before the BoJ announces its latest monetary policy measures, while USDJPY moves around the 89.70 level, and according to TD Securities analysts: "JPY weakness suggests BoJ easing at least partially factored in a current levels," the bank says, which leads them to think "USDJPY price action suggests a correction in the short-term at least."

"Japanese authorities have succeeded in shifting expectations but policy credibility may be an issue in the longer run," they add.