The Bank of Japan (BoJ) is expected to maintain rates on hold at -0.1%, focusing on the yield-curve, as policymakers are awaiting vaccine distribution before reassessing the situation. Meanwhile, USD/JPY has corrected from multi-month lows, but bulls are still reluctant, FXStreet’s Chief Analyst Valeria Bednarik informs. See – Bank of Japan Preview: Forecast from seven major banks Key quotes “The main rate is foreseen steady at -0.1%, while the focus will remain on the yield curve control, which aims to maintain the 10-year JGB yield target at around 0.00%.” “The coronavirus situation is worsening in Japan. The country reported on Monday roughly 5,000 new contagions, with serious cases nearing 1,000, putting the health system under pressure. In this scenario, the country is awaiting vaccine distribution, announced for February. That said, it seems unlikely that the BoJ would take fresh measures. Instead, policymakers will likely wait until March to reevaluate the situation.” “It seems unlikely that the pair would show a strong reaction to an on-hold BOJ. Still, if the pair manages to advance beyond 104.40, it could trigger stops and accelerate its advance. The risk will turn to the downside if the pair breaks below 103.50, the immediate support, while a steeper decline should be expected if it extends the slump below 103.10.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD bulls eye move back above 0.7800 mark FX Street 2 years The Bank of Japan (BoJ) is expected to maintain rates on hold at -0.1%, focusing on the yield-curve, as policymakers are awaiting vaccine distribution before reassessing the situation. Meanwhile, USD/JPY has corrected from multi-month lows, but bulls are still reluctant, FXStreet’s Chief Analyst Valeria Bednarik informs. See – Bank of Japan Preview: Forecast from seven major banks Key quotes “The main rate is foreseen steady at -0.1%, while the focus will remain on the yield curve control, which aims to maintain the 10-year JGB yield target at around 0.00%.” “The coronavirus situation is worsening in Japan. The country reported on Monday… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.