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The BOJ meeting is a live event and underway right now- USD/JPY edges back

Since an earlier update here this morning, the USD/JPY is just now edging a little lower. The slew of warnings from the Bank of Japan (BOJ) about the strength of the dollar versus its own currency have largely been ignored by the markets and right now the BOJ is sat around the table pondering their next move. The monetary policy from the BOJ is now underway and we will get the outcome of that very early tomorrow morning, sometime around 1.30am GMT. Given the weakness of the Yen right now, the risk of a rate increase from the BOJ tomorrow would seem to be live, but that is not the consensus. The point is folks; if the BOJ really want to alter the course of the USD/JPY, then a shift in monetary policy would be a very good place to start. 

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