Speculation is abound that the Bank of Japan will keep interest rates low for the foreseeable future in order to curb deflation. The Yen has since fallen against high risk currencies, most notably the Australian Dollar which gained 0.2% against the JPY in trading. Currently the pair is valued at 80.65. Traders may want to keep an eye on the pair, as the historically volatile Aussie will likely cause a downward correction in the near future.

As there are no major JPY news events ahead of the holiday weekend, trading should be relatively muted today. Forex customers will still want to pay attention to the U.S. unemployment figures, as they are likely to impact the USD/JPY pair. A positive figure may result in a reversal of the gains made by the Yen yesterday against the greenback.