The Japanese Yen completed yesterday's trading session with mixed results versus the major currencies. The JPY fell against the USD yesterday, pushing the oft-traded currency pair to 91.20. The Yen experienced similar behavior against the GBP as the pair rose from 1.4195 to 1.4285 by day's end. The JPY did see some bullishness as well as it gained 100 points against the EUR and closed at 123.60.
The Japanese market should have a heavy effect on the JPY versus its major currency counterparts, as the Overnight Call Rate will be announced today. The rate is expected to remain unchanged but traders should pay close attention to the BoJ Press Conference that will follow to look for expectations of Japan's economic future. A bullish statement from the BoJ could lead some traders to believe the BoJ is forecasting a rosier financial climate in Japan.