USD/JPY: key data ahead today - Scotiabank

Analysts at Scotiabank noted that Japan releases Tokyo area CPI, retail sales, industrial production and employment data this evening. 

Key Quotes:

"We think the BoJ will struggle to make clear progress towards its 2% inflation target in the medium term and will therefore retain an accommodative policy bias even as other, developed market central banks move to reduce policy easing."

"Weekly flow of funds data released earlier today showed Japanese investors increasing purchases of foreign bonds last week but monthly data provide a little more granularity on the destination of investments and these reveal no appetite for US Treasury bonds currently."